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If you go over the LSA or LSDBA, you may need to pay tax on any lump sum benefits in excess of your available allowances. This will be paid at your marginal rate and we’ll make sure this is deducted at source from any taxable lump sum benefits we pay to you.

From 6 April 2024, the government abolished the framework that set out the limit on the amount you can take from your pension benefits and savings before you’re charged tax, known as the Lifetime Allowance.

If you wish to apply for a TTFAC from USS, we will require a letter from each of your pension providers confirming.

The Investment Builder – the defined contribution (DC) part of USS – lets you save a bit extra. You can make additional contributions in My USS, which will go into your Investment Builder pot.

All running costs are covered in your contributions.

If you want us to manage your investments for you, you can choose the USS Ethical Lifestyle Option – one of the Do It For Me Options.

Visit where we invest for information on the different markets we invest in, for both the Retirement Income Builder and Investment Builder.

This website www.uss.co.uk ("website") is owned and operated by Universities Superannuation Scheme Limited ("USS/we/us"), a company registered in England and Wales under company number 01167127 and whose registered office is Royal Liver Building, Liverpool L3 1PY.

This website www.uss.co.uk ("website") is owned and operated by Universities Superannuation Scheme Limited ("USS/we/us"), a company registered in England and Wales under company number 01167127 and whose registered office is Royal Liver Building, Liverpool L3 1PY.