Where USS puts its money

UK academics are all aware that the nationwide pension scheme, called the Universities Superannuation Scheme (USS), believes itself to have a huge budget shortfall, that can only be resolved with major cuts to pensions for future retirees (but no cut at all to current retirees, for some reason). So it was with some interest that I read about the recent crash of the national air traffic control system, caused by persistent underinvestment in critical infrastructure by the public-private company Nats:

Nats became a public-private partnership in 2001 under the last Labour government. It is 42% owned by Airlines Group, whose shareholders include the University Superannuation Scheme, British Airways, Monarch Airlines retirement benefit plan, easyJet, Virgin Atlantic, Deutsche Lufthansa, Thomson Airways and Thomas Cook Airlines.

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