Regulation 2 Interpretation

In these Regulations –

• “the 2004 Act” means the Finance Act 2004^f1;

• “the 2015 regulations” means the Judicial Pensions Regulations 2015^f2;

• “the 2015 scheme” means the judicial pension scheme created by the 2015 regulations;

• “active member” means a person who is in pensionable service under the 2015 scheme;

• “AVC member” means an active member who has given a notice under regulation 6(2);

• “AVC scheme” means the scheme established under regulation 3;

• “authorised provider” has the same meaning as in section 1(9) of the Superannuation Act 1972^f3;

• “Judicial Pension Board” means the Judicial Pension Board established by regulation 6(1) of the 2015 regulations in accordance with regulations 7 and 8 of those regulations;

• “judicial pension scheme” means the 2015 scheme or the scheme constituted by the Judicial Pensions (Additional Voluntary Contributions) Regulations 1995^f4;

• “normal minimum pension age” has the same meaning as in section 279(1) (other definitions) of the 2004 Act;

• “pensionable service” has the same meaning as in Chapter 2 of Part 4 of the 2015 regulations;

• “qualifying recognised overseas pension scheme” has the meaning given in section 169(2) of the 2004 Act^f5;

• “registered scheme” means a pension scheme that is a registered pension scheme under Chapter 2 of Part 4 of the 2004 Act;

• “AVC scheme assets” means the total value of A minus B, where—

  • A is the sum of the realisable value of the investments made by the scheme manager with the contributions paid by the AVC member, plus any transfer value accepted under regulation 10; and

  • B is the sum of—

    1. (i)

       any amount deducted for tax under regulation 15;

    2. (ii)

       the fees or charges of an authorised provider in relation to the investments made by the scheme manager defrayed in accordance with regulation 16; and

    3. (iii)

       any amount that has already been transferred out of the AVC scheme under regulation 14.

• “scheme contributions” means the total of payments made under regulation 9(2)(a), (b) and (c);

• “scheme manager” has the meaning given in regulation 4;

• “tax year” has the meaning given in section 4(2) of the Income Tax Act 2007^f6 (as applied by section 989 of that Act).