The Council gives notice that the Universities Superannuation Scheme has been amended by the twelfth and thirteenth supplemental amending deeds, both dated 6 June 2007.
The twelfth supplemental amending deed contains minor amendments which do not constitute material alterations to the basic scheme; no formal disclosure to the membership of USS is required.
The thirteenth supplemental deed introduces the changes required in order to ensure compliance with the Employment Equality (Age) Regulations 2006.
When a member who has previously deferred benefits in USS rejoins the scheme after her or his 60th birthday any service accrued after 30 November 2006 will automatically be linked to the member's new period of service.
Where a member reaches Normal Retirement Age after 30 November 2006 her or his retirement benefits will be calculated using the Pensionable Salary at the date of the member's retirement and a late retirement factor will be applied to those benefits which accrued before Normal Retirement Age.
Where a member had already attained the Normal Retirement Date before 1 December 2006 but continues in service this provision will apply only to service after 30 November 2006.
The death in service benefits payable by USS where a member dies in service after her or his 65th birthday have been revised to match those payable in the event of a death in service before age 65.
The age limit at which a child ceases to be automatically eligible to receive a pension has been increased from 17 to 18.
Full details of all the amendments can be obtained from Mrs S. E. Curryer, Head of Pensions Administration, Personnel Division, 10 Peas Hill, Cambridge, CB2 3PN.