Regulation 31 Amendments to the 1995 Regulations
Regulation 4.10 (Valuation of benefits under the JAYS) is amended as follows.
For paragraph (1) substitute—
“(1)If a member leaves qualifying judicial service or makes an election under section 13 of the 1993 Act on or after reaching the assumed retirement age, any pension credits in the form of added years that he has purchased shall count as if they were years of service for the purpose of determining the length of his service in qualifying judicial office under Part 1 of the 1993 Act.
(1A)If the addition of the years of service mentioned in paragraph (1) would, were they to be years of service accrued other than by the purchase of pension credits, lead to the payment of additional payments under Part 1 of the 1993 Act, then benefits of an equivalent nature to those payable under Part 1 of the 1993 Act shall be paid under the JAYS.
(1B)Any benefit paid under paragraph (1A) shall be paid at the time or times when the benefits payable under Part 1 of the 1993 Act would have been payable.”.
In paragraph (2)—
the words “under section 3 of the 1993 Act” are deleted, and
after “credited with” insert “pension credits equivalent to”.
In paragraph (3) after “credited with” insert “pension credits equivalent to”.