UNIVERSITIES SUPERANNUATION SCHEME LIMITED
Company Information
- Company Number
- 01167127
- Registered Address
- Royal Liver Building, Liverpool, L3 1PY
- Status
- Active
- Employee Count
- 579
- Turnover
- £166,026,000
- EBITDA
- £3,325,000
Additional Details
- Website
- https://usscareers.co.uk/
- Company Type
- Private company limited by guarantee without share capital
- Incorporated On
- 18 April 1974
- Nature of Business
- 65300 - Pension funding
- Industries
- Financial Services
- Region
- North West
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Apr 2025 - 30 Sept 2025 | 30 Oct 2025 | 28 | 87% | 10% | 3% | 13% |
| 01 Oct 2023 - 31 Mar 2024 | 25 Apr 2024 | 28 | 87% | 9% | 4% | 13% |
| 01 Apr 2023 - 30 Sept 2023 | 24 Oct 2023 | 29 | 83% | 13% | 4% | 17% |
| 01 Apr 2022 - 30 Sept 2022 | 25 Oct 2022 | 31 | 80% | 15% | 5% | 20% |
| 01 Apr 2021 - 30 Sept 2021 | 30 Oct 2021 | 36 | 74% | 16% | 10% | 26% |
| 01 Oct 2020 - 31 Mar 2021 | 28 Apr 2021 | 32 | 75% | 16% | 9% | 25% |
| 01 Apr 2020 - 30 Sept 2020 | 16 Oct 2020 | 31 | 77% | 15% | 8% | 23% |
| 01 Apr 2019 - 30 Sept 2019 | 31 Oct 2019 | 25 | 87% | 10% | 3% | 13% |
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 24 | 87% | 11% | 2% | 13% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
USS standard payment terms are within 30 days of receipt of a valid VAT invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
Dispute Resolution Process
USS standard terms and conditions make provision for payment disputes. Invoices that are determined to be in dispute are flagged by the purchase ledger team and suppliers are informed of the nature of the dispute. Any element of the disputed invoice that is not included in the dispute is paid by USS within the agreed payment terms. USS reserves the right to set off any amount owing to it from the Supplier howsoever arising against any sums payable by USS to the Supplier, and to withhold any payments to the extent that Goods or Services have not been supplied to USS in accordance with the Contract until such goods and services have been received or until the matter is resolved via the Dispute Resolution Process outlined below. USS standard terms and conditions outline our standard process for then resolving any such dispute. The relevant clause is included below: “25. Dispute Resolution 25.1 A Dispute referred for determination under clause 25.1 shall be resolved as follows: (a) by referral in the first instance to the decision of the nominated contact of USS and the Supplier; (b) if a Dispute is not resolved within 14 days of its referral pursuant to clause 25.1(a), such Dispute shall be referred to senior personnel (as notified by each party to the other for this purpose) who shall have the power to resolve the Dispute; and 25.2 In the event that the Dispute is not resolved within 21 days of its referral under clause 25.1(b), then either party may commence court proceedings in accordance with clause 26.9. 25.3 Nothing in this clause 25 shall preclude a party from taking legal proceedings in the courts at any time: (a) to obtain an injunction (whether interim or final) to restrain the other party from doing any act or compelling the other party to do any act; or (b) to prevent a claim from becoming time-barred under any statute or rule of limitations.”
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
❌
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
Universities Superannuation Scheme Limited (USS) is a pension scheme provider for the higher education sector in the United Kingdom. It was established in 1975 and is one of the largest private pension schemes in the country.
USS offers a range of pension products and services to its members, including defined benefit and defined contribution schemes. It also provides investment management services, financial planning, and retirement planning advice.
In terms of sustainability, USS has a strong commitment to responsible and ethical investing. It has a dedicated sustainability program that focuses on environmental, social, and governance (ESG) factors in its investment decisions. This includes actively engaging with companies on issues such as climate change, diversity, and human rights.
The key people at USS include the Chief Executive Officer, Bill Galvin, and the Chairman of the board of trustees, Sir David Eastwood. The company has a team of experienced investment professionals and pension experts who work to ensure the long-term financial security of its members.
Contact information for USS can be found on their website, which is www.uss.co.uk. Their registered office address is Universities Superannuation Scheme Limited, Royal Liver Building, Liverpool, L3 1PY.
In summary, USS is a leading pension scheme provider for the higher education sector in the UK. It offers a range of pension products and services and has a strong commitment to sustainability. With a team of experienced professionals and a focus on responsible investing, USS is dedicated to providing long-term financial security for its members.
