University of Manchester Superannuation Scheme

University of Manchester Superannuation Scheme

UMSS operates as an in-house pension scheme for employees of the University of Manchester, governed by a trustee board currently chaired by Alison Hatcher of Vidett Trust Corporation Limited through the corporate trustee, UMSS Limited. The scheme's investment strategy is informed by the long-term liability profile of a mature defined-benefit plan, balancing growth and income across a deliberately concentrated set of asset classes. (per Altss research). Strategy spans direct property holdings and pooled real estate funds. The scheme holds the University of Manchester Property Security, a mixed-use asset in Manchester, alongside commitments to institutional UK commercial property vehicles including the M&G Secured Property Income Fund, the LGIM LPI Income Property Fund and the Aviva Lime Property Fund. Beyond bricks and mortar, the portfolio extends to private markets exposure through allocations targeting buyout, special situations, distressed debt, venture capital and mezzanine strategies. A commitment to the NTR Renewable Energy Fund signals direct participation in the energy transition, adding a global real-asset layer to the predominantly UK-centric property book. (per Altss research). The scheme is a member of the Tax Incentivised Savings Association (TISA), engaging with peers on UK pension policy and administration. August 2024 marked an operational shift as Barnett Waddingham LLP took over as pensioner payroll provider, while the trustee also retained The Tracing Group for ongoing member verification audits. These moves underline a governance model focused on member security and administrative resilience, typical of a single-sponsor plan that manages its own benefit administration directly rather than outsourcing the sponsor relationship. (per UMSS, 2024). The scheme's structural identity is a collegiate defined-benefit plan outside the national Universities Superannuation Scheme (USS). This independence gives UMSS trustee-level discretion over asset allocation and service providers, avoiding the one-size-fits-all constraints of the multi-employer USS while carrying the concentrated credit risk and governance load of a single-sponsor entity tied to the financial health of the University of Manchester.