A rosier financial outlook for UK higher education’s main pensions scheme has been confirmed by an in-depth review but calls for interim improvements in members’ benefits have been rejected.
The Universities Superannuation Scheme has published the results of its “accelerated year-end review”, commissioned after monitoring reports indicated a substantial reduction in the size of its deficit.
It has confirmed a “much-improved deficit position” compared with the last valuation of the scheme in March 2020, with the difference between assets and provisions shrinking from £14.1 billion to £2.1 billion in two years.
