Back from the beach and have now had a longer look through #USS annual report and accounts published today.
Many tweeps have asked how a £17.5bn deficit, as reported by USS last year, has shrunk to £8.4bn as reported in today's accounts.
There are several reasons for this
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Thank you for explaining all this so clearly and concisely.
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When did USS switch to CPI payment please Jo?
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Wasn’t the calculation of the £17b accounting deficit questioned for perhaps using the wrong dataset with respect to gender and life expectancy? Is it possible that this new figure stems in part from a fix of that possible error?
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Thanks for this What about the assumption on annual pay increases?
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So the deficit shrunk because the qualoty of life has shrunk? That soubds awefully convenient.
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Very clever and patient synopsis, a touch of smoke and mirrors in the blend.
Bedankt, Twitter gebruikt dit om je tijdlijn te verbeteren. Ongedaan makenOngedaan maken
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Thanks for the detailed summary. Do you know if life expectancy revision is based on actual fall in life expectancy?
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For the UK, the rate of improvement to life expectancy has slowed and this is reflected in the assumptions used for
#USS.
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