Regulation 5 Additional contributions
Subject to paragraph (3), where the contributions credit of an office-holder, calculated in accordance with regulation 4, is less than his notional service, he may, within 6 months of the date of transfer into the Part I scheme, elect by notice in writing to the responsible authority, to make additional contributions of 3%, 6%, 9% or 12% of his pension-capped salary in respect of that period of service for which contributions have not been credited.
Any election so made may be revoked or varied at any time by the office-holder by notice in writing to the responsible authority.
An election made under this regulation shall, if it has not been previously revoked, cease to have effect when the office-holder has made additional contributions for a period equal in length to the period of service for which contributions have not been credited and for this purpose, for any period for which he has made additional contributions at a rate higher than 3%, he shall be treated as having made such payments for a correspondingly longer period as shown in the table below —
| Additional annual contributions | No. of years credit | |
|---|---|---|
| 3% | 1 | |
| 6% | 2 | |
| 9% | 3 | |
| 12% | 4 |
Any election is subject to a maximum contributions limit of 15% of pension-capped salary and for this purpose there shall be taken into account any contributions being made in respect of any schemes constituted by the Judicial Pensions (Additional Voluntary Contributions) Regulations 1995f1.
Annotations
Footnotes
- f1
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S.I. 1995 .