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Regulation 61 Partial retirement option noticeI1

United Kingdom

(1)

A partial retirement option may only be exercised—

(a)

by notice to the scheme manager in a form required by the scheme manager (“option notice”); and

C1(b)

in the 3 months after P’s pensionable earnings are reduced, on a date agreed by the member and the scheme manager.

(2)

An option notice must specify—

(a)

whether P claims payment of—

(i)

the whole of P’s accrued pensions F1to which the office relates; or

(ii)

part only of P’s accrued pensions F2to which the office relates; and

(b)

if P claims payment of part only—

(i)

the descriptions of accrued pension for which payment is claimed; and

(ii)

the proportion of each description of accrued pension for which payment is claimed (“option proportion”), which must comply with regulation 62 F3, and

(d)

if P holds more than one office, the office or offices in respect of which P is exercising the partial retirement option.

Annotations

Textual amendments

F1

Words in reg. 61(2)(a)(i) inserted (1.4.2022) by The Judicial Pensions Regulations 2022 (S.I. 2022/319), reg. 1(4), Sch. 3 para. 4(9)(a) (with reg. 120)

F2

Words in reg. 61(2)(a)(ii) inserted (1.4.2022) by The Judicial Pensions Regulations 2022 (S.I. 2022/319), reg. 1(4), Sch. 3 para. 4(9)(b) (with reg. 120)

F3

Reg. 61(2)(d) and word inserted (1.4.2022) by The Judicial Pensions Regulations 2022 (S.I. 2022/319), reg. 1(4), Sch. 3 para. 4(9)(c) (with reg. 120)

Modifications

C1

Reg. 61(1)(b) modified (5.7.2023) by The Judicial Pensions (Remediable Service etc.) Regulations 2023 (S.I. 2023/766), regs. 1(b), 10(5)(6)

Commencement

I1

Reg. 61 in force at 1.4.2015, see reg. 1(4)