The proportion of UK higher education providers recording a deficit more than halves when changes to pension fund valuations are excluded, analysis suggests.
While still not telling the full story, figures without the volatile changes of pensions adjustments show a more complete and “reassuring” picture of the sector’s finances, according to experts.
Previous data from the Higher Education Statistics Agency (Hesa) revealed that 55 per cent of higher education institutions recorded a deficit in 2021-22 – mainly as a result of an increase in provision for the Universities Superannuation Scheme (USS).
However, analysis by Times Higher Education reveals that the proportion of providers in deficit drops to just 25 per cent when total changes to all pension provisions are excluded.
