The danger of reckless box-ticking

The current pensions dispute can only be resolved through better understanding and creative use of risk, says Robin Ellison.

The phrase “it may work in practice but does it work in theory?” seems purpose-written for the current disagreement about academic pensions.

The issues are fourfold. First, politically, is the defined benefit that the Universities Superannuation Scheme (USS) provides too generous to academics who are already overpaid in the public sector, giving pensions that the private sector cannot afford for its own employees?