Regulation 110 Purchase of added years by unretired FPJAYS membersF4
A notice given by an F1unretired FPJAYS member (“M”) under regulation 104(2) 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 F2in any office in relation to which benefits are to be calculated under the post-1995 provisions to the period ending with the date on which M reaches M's assumed retirement age; and
the number of added years M intends to purchase.
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.
The maximum number of added years that M may purchase under the FPJAYS is to be determined in accordance with the formula
A is the aggregate length of reckonable service in eligible fee-paid judicial offices that M would have at M's assumed retirement date F3and for this purpose regulation 103(1A) and (1B) does not apply, assuming that M works the number of qualifying fee-paid days notified under paragraph (1)(c);
B is the aggregate length of service in qualifying judicial office (within the meaning of Part 1 of the Judicial Pensions and Retirement Act 1993) that M would have at M's assumed retirement date; and
C is the equivalent value of any retained benefits to which M was entitled at the assumed contribution commencement date.
Where the maximum number of added years would (apart from this paragraph) be negative, it is instead nil.
Annotations
Textual amendments
- F1
Word in reg. 110(1) substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 52(3)(a)
- F2
Words in reg. 110(1)(c) inserted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 52(3)(b)
- F3
Words in reg. 110(3)(a) inserted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 52(3)(c)
- F4
Word in reg. 110 heading substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 52(2)
Notes on Chapter 3
Textual amendments
- F1
Word in Pt. 13 Ch. 3 heading substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 52(1)