Regulation 123 Purchase of added surviving adult’s pension by active JASAPS members
A notice given under regulation 117(2) by an active JASAPS member (“M”) must specify—
M’s assumed contribution commencement date;
M’s assumed retirement age;
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
the number of units of added surviving adult’s pension which M intends to purchase.
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—
where—
- (a)
A is—
- (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;
- (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
- (i)
- (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;
- (c)
Z is—
- (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
- (ii)
if M is not purchasing added years, nil.
- (i)
The date on which M is to start payment of periodic contributions (“the periodic contributions start date”) must—
be within 12 months of the date on which M gives the notice, and
be agreed between M and the administrators.