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A deep dive into how the Retirement Income Builder has performed against the investment balanced scorecard.

We’ve now published our latest Stewardship Report for 2025, which looks at what we’ve done to meet the UK Stewardship Code principles – something that’s widely recognised as the leading stewardship framework globally. Here we touch on what stewardship means for us and look at some examples to bring our activities to life.

An archive of information from the 2018 valuation.

With Enhanced Opt Out (EOO), you stop building up retirement benefits, but keep your life and ill health cover. This could be useful if for example you're close to or over the Lifetime Allowance (LTA). Take a look at what happens when you die and ill health retirement for more information.

Universities Superannuation Scheme has published its 2020 annual Report and Accounts, noting strong long-term investment returns but a sharp rise in its funding deficit due to the impact of Covid-19. Investment returns for the scheme’s DB fund averaged 6.19% pa over the five years to 31 March 2020 (worth £17.4bn and 0.91% pa above benchmark). According to the latest independent analysis, USS saves £49 million a year compared to its peers by managing most of its investments in-house.

There are two parts to USS. The Retirement Income Builder is the defined benefit (DB) part, which provides a guaranteed income in retirement. The Investment Builder is the defined contribution (DC) part, which allows you to save more towards your future in your own savings pot.

Find out what you can do with any DC savings you have with USS.

There may be instances where you want to make changes to your investment choices or switch from the Do It For Me option to the Let Me Do It option (or vice versa). In most cases, you can switch whenever you want (we may charge if you make frequent switches).