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I do not understand what my Target Retirement Age is. FAQ

Your Target Retirement Age (TRA) is important for a couple of reasons. It tells us when to move any investments you have in the Investment Builder to lower risk funds as you get closer to taking them – we do this for members in the USS Default Lifestyle Option and the USS Ethical Lifestyle Option (Do It For Me Options). We also use the TRA when we send you your annual projection of what your Investment Builder funds could be worth at retirement.
Your employer debt responsibilities

As an employer, you are responsible for your financial commitment to the Scheme, and in particular how and when a specific payment - called “employer debt” - may be triggered. These are also sometimes called ‘section 75 debts’ or ‘buy-out debts’.
You mention that you will divest from industries with no prospect of decarbonisation within reasonable timeframes because of the financial impact. Aviation fits in this category with no proven routes to decarbonisation (only offsetting and synthetic fuels which look extremely unlikely to scale up sufficiently quickly), so will you divest from/rule out investing in airports and airlines? FAQ

Aviation is a difficult sector to transition. However, we’re beginning to see changes and development in aviation technology. A recent collaboration between Heathrow, BA, Airbus, BP, Glasgow Airport and NATS (we have direct holdings in both Heathrow and NATs) led to a Net Zero flight powered by sustainable aviation fuel, from Heathrow to Glasgow Airport in September 2021.
Your pension in payment

Keep track of how and when you’ll receive your USS benefits and savings
We know fossil fuel companies are planning for major expansion in fossil fuel extraction in the coming years, and they only spend 5% of their capex on renewables. Why doesn't USS invest that money straight into renewables and speed the transition much more directly? FAQ

We’ve already invested or committed £1.9 billion to renewable energy and demand for this will only increase as more countries transition to lower carbon.
Why can’t you make the ethical growth/lifestyle funds the default investment options for the DC part of the scheme? FAQ

The ethical funds available in the Investment Builder apply specific criteria that is driven by ethical concerns rather than financial concerns. Our primary duty is to invest in the best financial interests of our members.
Investment-related documents and briefings

The trustee publishes a wide range of documents on its website relating to its investment strategies, principles, beliefs, policies, and activities.
What happens to salary above the £40,000 threshold? I understand it will be placed in the Investment Builder, but then how does this work in relation to how people choose the funds they wish to invest in? What are the costs of these funds? On retirement how will the Investment Builder and the Retirement Income Builder operate? FAQ

As of 1 April this year, the salary threshold will reduce from £59,883.65 to £40,000. A joint contribution from you and your employer of 20% of your salary above £40,000 goes into the Investment Builder. Your employer covers the cost of the administration and managing your investments, so you don’t need to worry about the cost of that.
What happens to my pension if my circumstances change (for example if I have children or I get divorced)? FAQ

Things change as you move through life, which could affect your pension or who you choose as your beneficiaries.

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