Money matters

USS crisis: can the pension system be reformed? | Times Higher Education (THE)

As such, the 2004 Pensions Act is a prime, but by no means unique, example of well-intentioned but inept financial regulation. Over-prescriptive, it has led to the demise of the defined benefit schemes that it was designed to protect. If proposed changes to the USS are implemented, there will be no defined benefit schemes of any significant size outside the public sector open to new members.