The Universities Superannuation Scheme (USS) has published it annual report and accounts as at 31 March 2017. The scheme, alongside many other defined benefit schemes throughout the UK, continues to deal with challenging funding issues caused by falling gilt yields, the decline of long-term interest rates and continued market volatility. In the last financial year, investment returns of more than 20% saw the value of the assets in USS grow by £10.2bn. The annual report and accounts also include a funding update which indicates a funding shortfall of £12.6bn which represents a funding ratio of 83%.
Professor Koen Lambert who is the Chair of the Employers Pensions Forum has recently written a blog piece on USS entitled "Addressing the university pension fund deficit"
The blog also references the publication of a report written by the EPF entitled "Suitability and sustainability: Pensions in the Higher Education Sector"