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Views from USS

Latest insights and commentary on current and emerging pension topics written by staff at USS and USS Investment Management Ltd

  • The arc of the covenant

    When taking investment risk to fund the pensions promised to members, we are relying on the scheme’s sponsors – its participating employers – to effectively underwrite that risk.

  • Innovating our DC offering for our members

    Building a truly innovative DC product is a vital part of our goal to give members the best possible investment options and access to forward-thinking investment strategies that’ll positively impact the final value of their DC savings when they come to take them. Read about our recent areas of DC innovation from an investment perspective.

  • Responsible investment: our approach and our legal obligations as a pension fund

    In light of the horrific events that have been unfolding over recent weeks in the Middle East, we know that members and employers may have questions about our investments. Simon Pilcher, Chief Executive of USS Investment Management, sets out our approach to investing responsibly and in the best financial interests of the scheme’s members and beneficiaries, in line with our legal duties.

  • Putting a fair price on our private market investments

    Unlike publicly listed assets, where values are obtained from quoted traded prices, private assets are valued by experts using a range of different data points and techniques to form a view of fair value.

  • Improving climate analysis with the University of Exeter

    Climate scenario analysis is a vital tool to help us assess the financial risks we face as investors under various future climate outcomes. We’ve worked with the University of Exeter to develop four new climate scenarios that are more useful for our investment decision-making.

  • Our latest progress to Net Zero

    Our latest TCFD report is now live, which looks at how we’re tackling the financial risks of climate change. Innes McKeand, our Head of Strategic Equities, talks about our progress towards our Net Zero ambition and the actions we’ve taken.

  • USS publishes Stewardship Code Report 2023

    USS is proud to have been a signatory to the Stewardship Code since 2021. We have now submitted our third report to the Financial Reporting Council (FRC), setting out how active stewardship remains an important aspect of our investment approach.

  • USS to vote against individual directors on climate transition plans

    Our new Stewardship and Voting Policy will see us vote more personally against responsible directors where possible. David Russell, Head of Responsible Investment, talks to our new voting approach and looks at how we’ve voted for climate action recently.

  • Turbulent weather ahead for DB schemes

    Simon Pilcher, Chief Executive of USS Investment Management, details the current risks faced by defined benefit schemes, and how an investment strategy should be based on balance, diversification and resilience.

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