If you decide to leave USS and transfer to another scheme, you can take a Cash Transfer Sum (CTS) payment to that scheme or (if you’re aged 55* or over) an annuity provider. When you leave USS, we’ll send you a letter that explains the amount of the CTS and how to arrange for it to be paid to another scheme / annuity provider. It’s guaranteed for three months and it also includes any Investment Builder contributions you and your employer may have made.
If we don’t hear from you within three months of sending you the letter, you can request another transfer value, but this will be a Cash Equivalent Transfer Value, which will be calculated at a later date and won’t guarantee you the full value of any contributions you may have made to the Investment Builder.
* Rising to 57 in 2028.