Regulation 123 Purchase of added surviving adult's pension by unretired JASAPS membersF6
A notice given under regulation 117(2) by an F1unretired JASAPS member (“M”) must specify—
M's assumed contribution commencement date;
M's assumed retirement age;
the number of qualifying fee-paid days F2in any office in relation to which benefits are to be calculated under the post-1995 provisions 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 F3unretired 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 F4in any office in relation to which benefits are to be calculated under the post-1995 provisions between the date on which M first held eligible fee-paid judicial office F5and the date on which M reaches M’s assumed retirement age as if the principal scheme had not closed to further accruals (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.
Annotations
Textual amendments
- F1
Word in reg. 123(1) substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 61(3)(a)
- F2
Words in reg. 123(1)(c) inserted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 61(3)(b)
- F3
Word in reg. 123(2) substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 61(3)(c)
- F4
Words in reg. 123(2)(b) inserted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 61(3)(d)(i)
- F5
Words in reg. 123(2)(b) substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 61(3)(d)(ii)
- F6
Word in reg. 123 heading substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 61(2)
Notes on Chapter 3
Textual amendments
- F1
Word in Pt. 14 Ch. 3 heading substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 61(1)