Paragraph 8 Amendment of the Judicial Pensions Regulations 2022I1
United Kingdom
(1)
The Judicial Pensions Regulations 2022 are amended as follows with effect from 1st April 2022.
(2)
In regulation 21 (calculation of “retirement index adjustment”)—
(a)
for paragraph (1) substitute—
“(1)
The retirement index adjustment for an amount of accrued pension is—
where—
“amount of accrued pension” means an amount of any description of accrued pension;
“retirement index percentage” means the retirement index percentage calculated under paragraph (2).”;
(b)
in paragraph (2), in the definition of “A”, for “index adjustment” substitute “in-service revaluation index”;
(c)
after paragraph (2) insert—
“(3)
In paragraph (2), “in-service revaluation index”, in relation to a pension scheme, means the percentage increase or decrease by which the pensionable earnings of a person, or a proportion of those earnings accrued as a pension, are revalued whilst the person is in pensionable service in that pension scheme.”.
(3)
In regulation 24(2)(a) (calculation of amount of accrued standard earned pension), omit “retirement”.
(4)
In regulation 39(2) (amount of full retirement pension)—
(a)
omit the “and” immediately after sub-paragraph (a);
(b)
at the end of sub-paragraph (b) insert—
“; and
(c)
the retirement index adjustment for the accrued amount”.
