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Russell Picot became a Director of Universities Superannuation Scheme Limited on 1 February 2021. Russell is a former HSBC Group Chief Accounting Officer with deep experience in pensions and broader Environmental, Social and Governance (ESG) knowledge.

Protecting the pension promises made to our members.

The modeller which supported the employer’s consultation with members is available and provides a comprehensive view of the likely impact on USS members’ pensions following the implementation of the JNC’s agreed changes to benefits from 1 April 2022.

You may have seen the recent media coverage concerning shareholder funding for Thames Water. This followed regulatory announcements made by Thames Water and Kemble on Thursday 28 March 2024. I want to reassure that this will have no significant or material impact on USS's funding position or the security of our members’ promised pensions.

Edinburgh/London, 18 August 2017 — Further to the announcement of 20 April 2017, a Macquarie-led consortium comprising Macquarie Group Limited (Macquarie), Macquarie European Infrastructure Fund 5 (MEIF5) and Universities Superannuation Scheme (USS) has successfully completed the acquisition of the UK Green Investment Bank Limited1 (Green Investment Bank) from HM Government for £2.3 billion.

Universities Superannuation Scheme – the UK’s largest private pension scheme by way of assets – has become one of the first schemes of its kind to enable members of its Defined Contribution (DC) “Investment Builder” funds to enjoy the benefits of its “private markets” investments.