USS warns of future contribution hikes as funding drops

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The Universities Superannuation Scheme's funding level dropped by 29 percentage points due to losses on investments, and increases in salaries and pensions, its 2009 accounts reveal.

The trustee company - which runs the scheme - said at March 31 the funding level had fallen to 74% from 103% the previous year. The report said the decrease reflected the fund's actual investment...

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