Related papers: The USS Trustee's risky strategy
This review considers the Universities Superannuation Scheme (USS) valuations from 2014 to 2023. USS is a 70-80 billion GBP Defined Benefit pension scheme with over 500,000 members who are employed (or have been employed) at around 70 UK…
We present the first global analysis of the impact of the April 2022 cuts to the future pensions of members of the Universities Superannuation Scheme. For the 196,000 active members, if Consumer Price Inflation (CPI) remains at its historic…
This paper discusses the financial risks faced by the UK Pension Protection Fund (PPF) and what, if anything, it can do about them. It draws lessons from the regulatory regimes under which other financial institutions, such as banks and…
The impact of strikes in educational institutions, specifically universities, on employers remains understudied. This paper investigates the impact of education strikes in UK universities from 2018 to 2022, primarily due to pension…
Thompson Sampling has generated significant interest due to its better empirical performance than upper confidence bound based algorithms. In this paper, we study Thompson Sampling based algorithm for Unsupervised Sequential Selection (USS)…
Structuring a viable pension plan is a problem that arises in the study of financial contracts pricing and bears special importance these days. Deterministic pension models often rely on projections that are based on several assumptions…
This study examines how market risks impact the sustainability and performance of the New Pension System (NPS). NPS relies on defined contributions from both employees and employers to build a corpus during the employee's service period.…
Excessive leverage, i.e. the abuse of debt financing, is considered one of the primary factors in the default of financial institutions. Systemic risk results from correlations between individual default probabilities that cannot be…
In this paper, we study Contextual Unsupervised Sequential Selection (USS), a new variant of the stochastic contextual bandits problem where the loss of an arm cannot be inferred from the observed feedback. In our setup, arms are associated…
The proposed reductions in federal research support proposed by the Trump Administration for 2026 would profoundly degrade the United States research universities, especially in the STEM fields and medicine (STEMM). A potentially…
Sepsis is a life-threatening and serious global health issue. This study combines knowledge with available hospital data to investigate the potential causes of Sepsis that can be affected by policy decisions. We investigate the underlying…
The lifetime behaviour of loans is notoriously difficult to model, which can compromise a bank's financial reserves against future losses, if modelled poorly. Therefore, we present a data-driven comparative study amongst three techniques in…
Network theory proved recently to be useful in the quantification of many properties of financial systems. The analysis of the structure of investment portfolios is a major application since their eventual correlation and overlap impact the…
Air travel is one of the most widely used transportation services in the United States. This paper analyzes the U.S. Flight Network (USFN) using complex network theory by exploring how the network's topology contributes to its efficiency…
Universities have been forced to rely on remote educational technology to facilitate the rapid shift to online learning. In doing so, they acquire new risks of security vulnerabilities and privacy violations. To help universities navigate…
Tenure is a cornerstone of the US academic system, yet its relationship to faculty research trajectories remains poorly understood. Conceptually, tenure systems may act as a selection mechanism, screening in high-output researchers; a…
We employ stochastic dynamic microsimulations to analyse and forecast the pension cost dependency ratio for England and Wales from 1991 to 2061, evaluating the impact of the ongoing state pension reforms and changes in international…
This article includes a discussion of the ``lost submarine problem", following Morey \emph{et al} (2016). As the title of that paper suggests (\emph{The fallacy of placing confidence in confidence intervals}), the example is intended to…
Applications of Large Language Models (LLMs) are rapidly growing in industry and academia for various software engineering (SE) tasks. As these models become more integral to critical processes, ensuring their reliability and…
In the last year more than 70,000 people have been brought to the UK hospitals with serious injuries. Each time a clinician has to urgently take a patient through a screening procedure to make a reliable decision on the trauma treatment.…