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Universities Superannuation Scheme (USS) - Update on scheme changes

I am writing to inform you of the changes to USS being implemented at 1 October 2011.  You have been identified as an employee who, although your employment conditions enable you to be a member of USS, you are not a current active member of USS and are required to be informed of these changes.

Background to the scheme review
Further information about the scheme review and subsequent consultation undertaken by employers is available here

Implementation of the scheme changes
At the USS Trustee Board Meeting held on 9 June 2011, the trustee board considered an amending deed to the rules of USS containing the proposed changes in their final form as decided upon by the Joint Negotiating Committee at its meeting on 10 May 2011.

The trustee board agreed the execution of the Deed of Amendment at their meeting and the changes to USS in their final form will be implemented 1 October 2011.

What are the changes?
The USS document "Summary of changes" for existing members sets out the main changes to USS which come into force on 1 October 2011.

If I decide to rejoin USS, which section am I eligible for?
From 1 October 2011, USS will have 2 sections – the Final Salary section and the Career Revalued Benefits section.  The New Employee's Guide to joining USS is aimed for those employees who joining or re-joining USS on or after 1 October 2011.  The guide contains a section and flowchart to help you identify which section you would be eligible for should you decide to rejoin USS.

I wish to re-join USS, what is the application process?
To make your application to rejoin, download and complete the Request to re-join form and submit it to UCL Pension Services.  Participation in USS operates under PensionsExchange for all eligible employees.

Fenella Needham
UCL Pensions Manager