Wrong. In the UK the universities collectively are part of USS, the biggest private pension fund in the UK The annoying thing is that this was in rude health u

Wrong. In the UK the universities collectively are part of USS, the biggest private pension fund in the UK The annoying thing is that this was in rude health until the university management controlled board decided to take a pension valuation during the middle of COVID. The driving factor is that 10 years or so ago the university sector was deregulated such that universities are no longer capped in terms of the number of students they can take. This has lead to vicious competition between universities to hoover up as many students as possible. As a result they are no longer willing to cross-subsidize each others pension funds.