Universities Superannuation Scheme (USS): actuarial valuation as at 31 March 2011

22 August 2012

Universities Superannuation Scheme

Every three years the USS scheme is required to undergo a formal valuation of its assets and liabilities at a given date. The latest valuation, undertaken as at the 31 March 2011, has now been concluded by the actuary to the fund, and the Valuation Report has been published.

In addition to the Actuarial Valuation Report, a Recovery Plan in respect of the deficit within the fund, has also been agreed and certified. Both of these documents and a further document entitled, Statement of Funding Principles, are available here.

Service statements at 31 March 2012

Service statements for members of the Final Salary section have recently been distributed to your work location. This is an important document as it sets out your USS service accrued up to and including 31 March 2012, as well as containing other useful and personal information relating to your USS membership.

If you have a query about any of the information contained on your statement, or if there is incorrect information, please complete the Update Form page as appropriate and return it to: UCL Pension Services, 9th Floor,1-19 Torrington Place.

Similarly, if you have not yet received your statement, please contact UCL Pension Services at pensions@ucl.ac.uk with the email subject “USS Service Statement 2012”.

For members of the Career Revalued Benefits section, USS have advised that these statements are scheduled to be distributed (to your work location) by the end of September 2012. There will be a further update as appropriate if USS subsequently inform us of a revised timescale.

Fenella Needham, Pensions Manager, Human Resources, UCL