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A dependant is someone who’s fully or partly financially dependent on you, or dependent on you because of any physical or mental disability when you die.

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.

You’re no longer paying into your USS pension and you’re approaching retirement. It’s important to know how the process works and how long it takes.

As we look forward, the final quarter of 2020 looks to be one of the most challenging in recent history. With the looming US election poised to be highly contested, a potential cliff-hanger Brexit deadline and a global pandemic still unfolding, calling the future direction of the global economy and financial markets is at its most difficult.

Essential details of how the scheme works and what it means to be a member

Modern slavery is a crime and a violation of fundamental human rights. It takes various forms, such as slavery, servitude, forced and compulsory labour and human trafficking, all of which have in common the deprivation of a person’s liberty by another in order to exploit them for personal or commercial gain.

The valuation is based on a snapshot of the scheme’s funding at the valuation date – 31 March 2020. That date was agreed long in advance, without of course knowing that the pandemic would cause funding conditions at that date to be so volatile.

If it becomes clear that a particular sector or company cannot transition to Net Zero, we’ll use divestment as a tool if necessary.

By law, we have to hold a full valuation at least every three years. It involves comparing how much money the scheme has at a particular date (its assets) with the total estimated amount of money required to pay all the Retirement Income Builder benefits promised to members up to that point in time (its liabilities).