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Dame Kate became a Director of Universities Superannuation Scheme Limited in April 2020 and became Chair in September 2020. She’s also a member of the Investment Committee.

As a VSC will mean you build up fewer benefits, your adjusted income and the amount of your salary that’s assessed for Annual Allowance purposes will be reduced.

Earlier this year we learned that an historic settlement had been reached in a large and long-running legal case. The total value of the settlement is USD 3 billion (ie. USD 3,000,000,000). This is a genuinely historic settlement for a case of this kind – it’s the largest securities/investments class action settlement in over a decade, and is the largest settlement ever in a class action involving a non-US issuer (ie. Petrobras). It is the fifth largest class action settlement ever in the US.

No. There is no cost to USS members or the scheme. The service is being provided on a complimentary basis by Capita.

For a small number of our members we need to carry out additional checks and calculations on their benefits and therefore can’t produce an automatic statement.

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.

Dame Kate Barker has been re-appointed Chair of the USS Board for a further four years (to 31 March 2028).

Firstly, it’s important to note that prudent expectations for investment returns (upon which we base the discount rate) are, by definition, not a ‘best estimate’. They reflect a wide range of factors – not just one potential version of the future in isolation.

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