<p>The Universities Superannuation Scheme (USS), one of the largest principal private pension plans for higher education institutions in the UK, reported an investment return of 20.1% for the fiscal year ending March 31.</p>
<p>However, while the plan’s assets rose to £60 billion from £49.8 billion, the liabilities increased from £59.8 billion to £72.6 billion, leading to an increase in its deficit. The USS said the main reason for the growth in deficit is the large drop in long-term interest rates during the year.</p>