Sponsors in the education sector are undoubtedly experiencing a challenging time.
2020 has been a tough time for many sponsors and the higher education sector is no different. With intense domestic and international competition, Brexit dynamics and the unprecedented COVID-19 pandemic, the UK higher education sector is facing a challenging period. Income has been severely affected with global lockdown restrictions affecting domestic and international students and therefore posing significant financial risk.
Exacerbating the situation is that the sector is financially exposed to the wider economic downturn – specifically defined benefit pensions schemes such as the Universities Superannuation Scheme (USS) which has seen a significant deterioration in its funding position, which is also true for many of the other pension schemes supported by the sector.
We are working with clients in this sector to navigate this uncertain time to help combat the challenges they face.
We hosted a webinar on 3 December at 9.30-10.30am, where we explored the current challenges specifically faced by the higher education sector and shared practical tips to employ. For more details register and watch the webinar recording here.