Angeline M. Barrett is one of the CIRE staff on strike this week. In this article, she takes a closer look at how the USS pension is invested. This week, academic and some professional services staff at the University of Bristol will be on strike. The industrial action relates, amongst other demands, to the terms of our pension benefits and contributions . Bristol is the first UK University to declare a climate emergency and the School of Education has developed its own Climate Strategy. Yet, our pension fund, USS, holds substantial shares in the fossil fuel industry. Let us use the time on the picket lines to build a climate Ethics for USS campaign . USS investments in fossil fuels According to the USS 2019 annual report , 40.9% of the Pension fund’s £64.7 billion assets, what is known as its implemented portfolio, is invested in private equities (i.e. shares in private companies). Its website lists the top 100 equity investments (as of 31 March). Number one on the list is
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