# The Judicial Pensions Regulations 2022, Regulation 60: Option to commute part of pension

Extent: E+W+S+N.I.

(1) A member who becomes entitled to the immediate payment of a retirement pension under this scheme may opt under this regulation to exchange part of the pension for a lump sum.
(2) An option under this regulation may only be exercised before the first payment of the pension is made.
(3) Where a member exercises the option mentioned in paragraph (1), for every £1 by which the amount of the member’s annual rate of pension is reduced, the member must be paid a lump sum of £12.
(4) A member may not exchange pension for lump sum under this regulation to the extent that it would result in more than 35.7% of the member’s pre-commuted pension being exchanged for the lump sum.

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Source: https://www.legislation.gov.uk/uksi/2022/319/regulation/60 (the official version)
Page: https://openlegislation.uk/judicial-pensions-regulations-2022/regulation-60
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.