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Regulation 16 Annual rate of reduced pension

(1)

The annual rate of a pension to which F1P becomes entitled under regulation 14 or 15 is determined under paragraph (3), (5) or (7) (whichever applies).

(2)

Paragraph (3) applies where, on retirement, P has reckonable service in only one eligible fee-paid judicial office F2which is a relevant office.

(3)

The annual rate is determined in accordance with the following formula—

F3(R40×S)×(A+(B365×(C−A)))

where—

  1. a

    R is P's reckonable service in the relevant office;

  2. b

    S is the appropriate annual salary of the judicial office held by P immediately before retirement;

  3. c

    A is the actuarial reduction factor set out in the Table corresponding to P's age on P's birthday preceding the retirement day;

  4. d

    B is the number of days in the period beginning with P's birthday preceding the retirement day and ending with the retirement day;

  5. e

    C is the actuarial reduction factor set out in the Table appropriate to P's age on P's birthday following the retirement day.

(4)

Paragraph (5) applies where—

(a)

on retirement, P has reckonable service in more than one eligible fee-paid judicial office; and

(b)

P did not, at any time before retirement, hold two or more eligible fee-paid judicial offices simultaneously.

(5)

The annual rate F4for any relevant offices is determined in accordance with the following formula—

( A R 40 × S ) × ( A + ( B 365 × ( C − A ) ) )

where—

  1. a

    AR is the aggregate length of P's reckonable service in F5relevant offices;

  2. b

    S is the appropriate annual salary of the judicial office held by P immediately before retirement;

  3. c

    A is the actuarial reduction factor set out in the Table corresponding to P's age on P's birthday preceding the retirement day;

  4. d

    B is the number of days in the period beginning with P's birthday preceding the retirement day and ending with the retirement day;

  5. e

    C is the actuarial reduction factor set out in the Table appropriate to P's age on P's birthday following the retirement day.

(6)

Paragraph (7) applies where—

(a)

on retirement P has reckonable service in more than one eligible fee-paid judicial office F6...; and

(b)

at any time before retirement, P held two or more F7eligible fee-paid judicial offices simultaneously.

(7)

The annual rate F8for any relevant offices is determined by taking the following steps:

Step 1

  • Determine the annual rate under paragraph (3), in relation to each relevant office which P held simultaneously F9with another eligible fee-paid judicial office, as if—

    1. (i)

      that office were the only office in which P had reckonable service on retirement (except in determining the maximum amount in relation to that office under regulation 5), and

    2. (ii)

      P held that office (and held no other judicial office) immediately before retirement.

Step 2

  • Determine the annual rate under paragraph (5), in relation to those relevant offices which P did not hold simultaneously with another F10eligible fee-paid judicial office, and for these purposes, in paragraph (5) S is—

    1. (i)

      where P held a single judicial office immediately before retirement, the appropriate annual salary of that judicial office;

    2. (ii)

      where P held more than one judicial office immediately before retirement, the highest appropriate annual salary of those offices.

Step 3

  • Add together each of the rates found under Step 1 and the rate found under Step 2.

(8)

In this regulation—

(a)

“the retirement day” means the day on which P retires;

(b)

“the Table” means the Table in the Schedule to the Judicial Pensions (Miscellaneous) Regulations 1995 F11, as it has effect on the retirement day.

(9)

Paragraph (10) applies where—

(a)

during one or more parts of the period for which P held F12a relevant office (“office A”), P held one or more other eligible fee-paid judicial offices simultaneously, and

(b)

during one or more parts of that period P held no eligible fee-paid judicial office other than office A.

(10)

For the purposes of paragraph (7)—

(a)

office A is to be treated as two different relevant offices—

(i)

the first of which (“the first office”) is held for the period (or the aggregate of the periods) mentioned in paragraph (9)(a), and accordingly, is taken into consideration in Step 1 in paragraph (7), and

(ii)

the second of which (“the second office”) is held for the period (or the aggregate of the periods) mentioned in paragraph (9)(b) and, accordingly is taken into consideration in Step 2 in paragraph (7), and

(b)

P's reckonable service in office A is to be apportioned between the first and the second offices in the same proportion as that between the period P held the first office and the period P held the second office.

Annotations

Textual amendments

F1

Word in reg. 16(1) substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 18(a)

F2

Words in reg. 16(2) substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 18(b)

F3

Reg. 16(3) formula substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 18(c)

F4

Words in reg. 16(5) inserted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 18(d)(i)

F5

Word in reg. 16(5) substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 18(d)(ii)

F6

Words in reg. 16(6)(a) omitted (1.4.2023) by virtue of The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 18(e)(i)

F7

Words in reg. 16(6)(b) substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 18(e)(ii)

F8

Words in reg. 16(7) inserted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 18(f)(i)

F9

Words in reg. 16(7) inserted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 18(f)(ii)

F10

Words in reg. 16(7) inserted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 18(f)(iii)

F11

S.I. 1995/632. The Table in the Schedule to these Regulations was substituted by S.I. 2015/533.

F12

Words in reg. 16(9)(a) substituted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 18(g)

Notes on Part 3

Textual amendments

F1

Words in Pt. 3 heading inserted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), regs. 1(1), 13

Modifications

C1

Pts. 1-11 restricted (10.3.2022 for specified purposes, 1.4.2022 in so far as not already in force) by Public Service Pensions and Judicial Offices Act 2022 (c. 7), ss. 90, 131(1)(2)(f)