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As you get closer to retirement, find out how the increase helps to inflation proof your built-up benefits.

If you have Investment Builder savings and you’re thinking about retiring in the near future, please read the following information.

The Southern District of New York court on 2 February 2016 granted Universities Superannuation Scheme Limited (USS) motion for class certification in the action against Petróleo Brasileiro S.A. – Petrobras (Petrobras).

Essential details of how the scheme works and what it means to be a member

You will be liable to pay a tax charge if the value of your benefits built up across all registered pension schemes over the tax year (known as your “Pension Input Period amount” or “PIP amount”) is greater than your Annual Allowance. This worksheet can help you to estimate the value of both your PIP amount in respect of your USS benefits and your Annual Allowance. Please ensure that you have read and understood the important information and disclaimer on page five before using the worksheet.

If you were a USS member before 2016, you would’ve built your benefits in a different way to how you do now with the Retirement Income Builder and the Investment Builder. And if you left USS and later re-joined, you may have built up a mixture of benefits.

This paper sets out the USS trustee’s view on the proposed defined benefit Code of Practice, as set out in the Regulator’s consultation document dated March 2020.

Where your contributions go and who manages our investments

You have different options open to you depending on your age. And even if you’re not able to start taking your benefits yet, there are things you can do to prepare yourself for your future.