Key terms and important information
Find out the important terms and phrases associated with USS
How we’re set up
USS is the pension scheme itself. It’s set up under a trust and has rules that set out what benefits and contributions are payable, and how the scheme is to be administered.
Universities Superannuation Scheme Limited – that’s us – is the corporate trustee that runs and manages USS under these rules.
USS Investment Management Limited is owned by us. It’s the principal investment manager and advisor to the scheme.
How we’re run
We (Universities Superannuation Scheme Limited) take care of the scheme and the Group Executive Committee looks after its day-to-day running.
We’re supported by our Advisory Committee which helps with difficult issues that arise under the Scheme Rules. And if the rules need changing, it'll need the support of the Joint Negotiating Committee who can also propose rule changes themselves.
We’re also regulated by The Pensions Regulator, whose responsibilities include protecting people's savings in workplace pension schemes and improving the way that those schemes are run. USS Investment Management Limited is regulated by the Financial Conduct Authority.
We have an Investment Committee which oversees the investment of the scheme’s assets and advises us on strategic matters relating to investments.
This is all so we can continue providing you with a valuable way to save for your future.
To find out more about our governance structure, have a look at the USS Group Governance Framework and the USSL Articles of Association.
Find out more about the Universities Superannuation Scheme Limited board and the USS Investment Management Limited board.