Regulation 110 Purchase of added years by active FPJAYS members

(1)

A notice given by an active FPJAYS member (“M”) under regulation 104(2) must specify—

(a)

M’s assumed contribution commencement date;

(b)

M’s assumed retirement age;

(c)

the number of qualifying fee-paid days which M proposes to work each year to the period ending with the date on which M reaches M’s assumed retirement age; and

(d)

the number of added years M intends to purchase.

(2)

The date on which M is to start payment of periodic contributions (“the periodic contributions start date”) must—

(a)

be within 12 months of the date on which M gives the notice, and

(b)

be agreed between M and the administrators.

(3)

The maximum number of added years that M may purchase under the FPJAYS is to be determined in accordance with the formula $20 - (A + B + C)$ where—

(a)

A is the aggregate length of reckonable service in eligible fee-paid judicial offices that M would have at M’s assumed retirement date, assuming that M works the number of qualifying fee-paid days notified under paragraph (1)(c);

(b)

B is the aggregate length of service in qualifying judicial office (within the meaning of Part 1 of the Judicial Pensions and Retirement Act 1993) that M would have at M’s assumed retirement date; and

(c)

C is the equivalent value of any retained benefits to which M was entitled at the assumed contribution commencement date.

(4)

Where the maximum number of added years would (apart from this paragraph) be negative, it is instead nil.