Reporter 26/7/00: Contributory Pension Scheme: Notice

Contributory Pension Scheme: Notice

24 July 2000

By Grace 2 of 24 November 1999 (Reporter, p. 185) certain amendments to the Rules of the Contributory Pension Scheme were approved. A Notice outlining the main amendments was published on the same date (p. 169). Copies of the updated Rules of the Scheme incorporating these amendments are now available from the Pensions Office, Finance Division, 10 Peas Hill, Cambridge CB2 3PN. A guide to the scheme is also available on the Pensions Office's webpage (http://www.admin.cam.ac.uk/offices/pensions/cpsguide.html).

Minor amendments to the regulations for the Scheme (Statutes and Ordinances, p. 156) are now necessary to bring them into line with the new Rules and to update certain obsolete references. The Council have therefore agreed to promote a Grace (Grace 4, p. 1024) for the purpose of replacing the regulations for the Scheme with the following:

CONTRIBUTORY PENSION SCHEME

1. There is and shall be a fund established under the authority of the Oxford and Cambridge Act 1923 under the name of the Contributory Pension Scheme for the purpose of providing, under the rules of the Scheme,¹ pensions, grants, and allowances to such assistants and other persons employed by the University of Cambridge, or by an associated Employer, as are members of the Scheme.

2. The Trustees of the Scheme shall be the Chancellor, Masters, and Scholars of the University acting through a Managing Committee appointed in accordance with the rules of the Scheme and shall hold the Fund on trust to apply it in accordance with the provisions of the Scheme.

3. Subject to the provisions of Rule 43 {eligibility and admission} of the Scheme, the following shall be eligible for membership of the Contributory Pension Scheme, provided that their contract of employment with the University, or other Employer, is for a period of not less than one year:

(a)	all University assistants;
(b)	such other employees of the University as are ineligible to join the Universities Superannuation Scheme;
(c)	permanent employees of any Employer.

4. Contributions to be paid by members of the Scheme shall be deducted from their salaries.

5. Subject to the restrictions contained in Rule 5 {amendment} and in Schedule 2 to the Rules {contracting-out}, the Scheme may be altered from time to time without the authority of a Grace in order to ensure its continued approval by the Pension Schemes Office and by the National Insurance Contributions Office of the Inland Revenue or any bodies which succeed either of them. Such alterations shall be published in the Reporter.

1 The rules of the Contributory Pension Scheme were last published in Ordinances, 1985, p. 130. Up-to-date copies of the rules may be obtained from the Treasurer.

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