For what sort of pension scheme would a fall in the gilt yield during the next few months be such a problem that the trustee and tPR should legally bind employers now to raise contributions before the next valuation in the event of such a fall?
Here's one answer: any DB scheme, including #USS:
👆But John's is the wrong answer. The right answer is that this might be appropriate for a scheme which has a genuine risk of going into the Pension Protection Fund soon because the sponsoring employer is at risk of insolvency during the next few months.
Both because of the strength of the employer covenant and the last man standing nature of the scheme, there is no risk of USS going into the PPF between this valuation and the next one.
I hope both @ucu & @UniversitiesUK will press the above points if & when #USS calls for automatic triggers of higher contributions between valuations, as their condition for accepting JEP proposals.
