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11 June 2024

USS wins DC Innovation of the Year award

We’re proud to announce that USS won the DC Innovation of the Year award at the UK Pension Awards 2024 for the Investment Builder – the defined contribution (DC) part of USS that provides members with a flexible savings pot alongside the Retirement Income Builder, the defined benefit (DB) part that gives members a guaranteed income in retirement.

The DC Innovation of the Year category rewards the firm that innovated most in the DC space in the 12 months to 31 December 2023. Our winning entry showcased our DC offering and particularly focused on investment innovation. It highlighted three main areas, which all have members’ best financial interests at heart. This included adding illiquid, or private market, assets to our DC product, investing responsibly, and introducing a foreign exchange (FX) overlay to our default investment strategy.

For us, building a truly innovative DC product is a vital part of our goal to give members the best possible investment options for their DC savings and access to forward-thinking investment strategies that’ll positively impact the final value of their DC savings when they come to take them.

Congratulations to everyone across USS who has worked to shape our winning DC product!

You can learn more about the Investment Builder and find more detail on our DC investment innovations in our recent blog.