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USS Investment Management, the wholly-owned investment arm of the Universities Superannuation Scheme, today announces its intention to introduce a climate “tilt” to a portion of the Global Developed Markets Equity component of the defined benefit and defined contribution funds held by the scheme. This change will affect over £5bn of assets under management.

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.

Watch our videos to find out how the JNC’s proposed changes could affect your pension, if implemented.

Universities Superannuation Scheme is now one of the biggest pension schemes in the UK in assets under management (AuM) – with a value of £60.5bn, according to its latest Annual Report & Accounts.

We’re changing how we report on the USS Growth Funds in the Investment Builder.

Even though you’re no longer paying in to your USS pension, you still have benefits to take when you reach retirement

Reflecting the long-term nature of the pension arrangements of our members, we take a long-term approach to investment strategy. The overall balance of our investments in the defined benefit (DB) section reflects the primary objective of any DB pension: to provide members with a set inflation-linked income for life in retirement, regardless of what happens to the economy in the future.

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.

It’s coming up to two years since the date of the 2020 valuation. What’s been happening to the funding position in that time and where do things stand today?