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Regulation 123 Purchase of added surviving adult’s pension by active JASAPS members

Original text. Later amendments are not shown.

(1)

A notice given under regulation 117(2) by an active JASAPS member (“M”) 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 units of added surviving adult’s pension which M intends to purchase.

(2)

The maximum number of units which an active member may purchase in the JASAPS is the amount which the administrators determine would produce a pension equal to a sum calculated in accordance with the formula—

A×( Y+Z ) 45

where—

  1. (a)

    A is—

    1. (i)

      where M held a single judicial office on the assumed contribution date, the salary which would have been M’s appropriate annual salary if M had retired on that date;

    2. (ii)

      where M held more than one judicial office on the assumed contribution date, the salary which would have the highest appropriate salary of these offices if M had retired on that date; and

  2. (b)

    Y is M’s reckonable service between the date on which M first held eligible fee-paid judicial office (or 7th April 2000 if later) and date on which M reaches M’s assumed retirement age (assuming that M works the number of qualifying fee-paid days notified under paragraph (1)(c)) expressed in years and fractions of a year to four decimal places;

  3. (c)

    Z is—

    1. (i)

      if M is purchasing added years, the number of added years which M would have purchased by the date on which M reaches M’s assumed retirement age, or

    2. (ii)

      if M is not purchasing added years, nil.

(3)

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.