Our new report, Responsible investment: what it means to us, summarises why responsible investment is central to our approach. It brings together why we invest this way, how we do it, and what it looks like in practice, with recent examples from across the portfolio.
UCEA and UCU have been working with support from the USS trustee to consider how to achieve greater stability in the scheme over time, reducing the volatility in contribution rates and Retirement Income Builder benefits seen in recent years.
The Retirement Income Builder, the defined benefit (DB) part of USS, has performed well in recent years. At 31 March 2025, the scheme was in surplus — the value of the assets in this part of the scheme, at over £73bn, was around £10bn more than we estimated would be needed to cover the benefits that members have already accrued at that point in time.
