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If you have Investment Builder savings (the defined contribution part of the scheme), you can log onto My USS and review your investments. You can also find fund factsheets, which outline the performance of each of the funds available in the Investment Builder. The pension you’ve built up in the Retirement Income Builder (the defined benefit part of the scheme) is secure and protected by law.

The deficit, or funding gap, is based on the difference between the assets and liabilities of the scheme. When we carry out a valuation, we take into account the cost of future pension payments and the income we expect our investments to make in the future.

As a long-term investor, we plan to look through sharp shocks in the economy, however difficult they may be. As an in-house financial manager, USS Investment Management works solely to achieve the goals of USS.

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.

To cover the charge, we’ll sell parts of your Investment Builder pot. As the value of your pot changes every day, we can’t work out exactly how many units we need to sell to cover the charge.

Celebrating fifty years of USS

You have access to a series of interactive presentations about the benefits and options provided by USS.

If you're paying in and looking to take some or all of your benefits, this session covers the basics of what you need to know.

You’ll be covered up to the level that you set your VSC at. You can choose to pay 2.5% above the VSC for the full cover of your pensionable earnings.