OpenLegislation

Regulation 4.9 Maximum contributions

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

A member’s contribution to the JAYS in any tax year shall not exceed the smaller of —

(a)

such amount determined by the administrators, which if maintained at that level until the assumed retirement age, is likely to provide a number of years service equal to the limit set out in regulation 4.3(2), and

(b)

that percentage of the member’s pension-capped salary which, together with any contributions made by the member to the scheme constituted under Part I of the 1993 Act and any other judicial pension scheme (including voluntary contributions schemes) will bring the total contributions to 15% of that pension-capped salary.

(2)

A member’s contribution to the JASSPS in any tax year shall not exceed that percentage of the member’s pension-capped salary which together with —

(a)

any contributions made by the member to the scheme constituted under Part I of the 1993 Act; and

(b)

any other judicial pension scheme (including voluntary contributions schemes),

will bring the total contributions to 15% of that pension-capped salary.

(3)

A member’s contribution to the JABS in any tax year shall not exceed the smaller of —

(a)

such amount determined by the administrators, which if maintained at that level until his normal pension age, is likely to provide benefits equal to the limits set out in regulation 4.5(5); and

(b)

that percentage of the member’s salary which is subject to tax under Schedule E under Part V of the 1988 Act which, together with any contributions made by the member to his existing scheme and any other judicial pension scheme (including voluntary contributions schemes) will bring the total contributions to 15% of that salary.