Regulation 47 Lump sum on death: death soon after retirement of member entitled to pension

Paragraph (2) applies if—

On the day after that on which P dies, P's personal representatives become entitled on behalf of P's estate to a lump sum equal to the difference between the total benefits received and the minimum benefits amount.

In this regulation “the total benefits received” means the amount determined in accordance with the following formula—

where—

1. a

   F1A is the sum of the interim payments amount (if any), and any interim amendments payments amount (as that expression is defined in regulation 68 of the Amendment Regulations) in relation to P in respect of benefits corresponding to those under the post-1995 provisions;

2. b

   B is the amount (if any) paid or payable to P under regulation 50 F2and regulation 69 of the Amendment Regulations in respect of benefits corresponding to those under the post-1995 provisions;

3. c

   C is the total of the sums paid or payable to P under Part 3 on account of the pension (including any increases under the Pensions (Increase) Act 1971 F3), and by way of lump sum, in relation to the period after commencement day;

4. d

   D is the amount (if any) paid or payable by P under regulation 51 F4and regulation 70 of the Amendment Regulations in respect of benefits corresponding to those under the post-1995 provisions.

In this regulation “the minimum benefits amount” means the amount determined in accordance with the following formula—

where E is the annual rate of the pension payable to P under Part 3 immediately before P's death.

In this regulation, “the Amendment Regulations” means the Judicial Pensions (Fee-paid Judges) (Amendment) Regulations 2023.