Pensions
Improved Funding Spurs UK Pension Giant USS to Propose Lower Contribution Rates
The proposed reduction would cut the combined employer and employee contribution rate to 16.2% from 31.4%.
Tag: Universities Superannuation Scheme
Risk
UK Pension Told to Assume 470,000 Members’ Info Accessed in Capita Hack
The Universities Superannuation Scheme had stored participants’ details on Capita’s Hartlink platform, yet states ‘USS member data … has not been compromised.’
Newsmakers
UK’s Biggest Pension Fund Facing Lawsuit, Potential Strikes Over Benefit Cuts
The plan is increasing contributions while cutting benefits despite significant investment returns last year.
Asset Allocation
British Pension to Shift $6.7 Billion Away from Polluters
USS is the largest private pension fund in the UK.
Pensions
Union Threatens Strike Over Cuts at UK’s Largest Pension
The University and College Union says industrial action is now ‘inevitable.’
Pensions
UK’s Largest Private Pension Fund Commits to Net-Zero by 2050
The $93.9 billion USS said it hopes to reach its goal even sooner than the Paris Agreement target.
Pensions
UK’s Largest Pension Fund Loses 1.7% in Fiscal 2020 But Beats Benchmark
Universities Superannuation Scheme reports 6.19% five-year return.
Asset Allocation
USS Targets Tobacco, Thermal Coal for Divestment, Exclusion
UK’s largest pension plan will shun investments, like tobacco and coal, it deems ‘financially unsuitable.’
Market Moves
Trio of Pension Giants Takes on ESG Naysayers
CalSTRS, USS, Japan’s GPIF warn public companies and asset managers to adapt or die.
Pensions
UK Universities Launch Largest Strike in History over ‘Radical Changes’ to Pension Plan
University staff start 14 days of strikes at more than 70 campuses.
Asset Allocation
Massive UK Pension to Cut Its External Hedge Fund Portfolio in Half
The Universities Superannuation Scheme intends to utilize its in-house investment team over managers.
Asset Allocation
UK Universities Superannuation to Give DC Plan Access to Private Markets
UK’s largest private pension opens £17 billion portfolio to 85,000 defined contribution members.
News
Workers Strike at 60 UK Universities Over Pensions, Pay
Union members balk at decision to raise employee contributions to 9.6% of salary.
UK Universities Superannuation Scheme Underperforms in Fiscal Year
Brexit woes, global economic uncertainty amid fund’s top concerns.
Corporate Moves
UK’s Largest DB Plan Gets New CEO/CIO
Ex-M&G Prudential head Simon Pilcher will take over the UK’s Universities Superannuation Scheme from Roger Gray.