# The Judicial Pensions (Transfer Between Judicial Pension Schemes) Regulations 1995, Regulation 5: Valuation of relevant rights: last existing scheme


(1) The value of a member’s relevant rights to be transferred from his last existing scheme to the Part I scheme shall be calculated in accordance with the formula A × B where—
(a) A is the member’s length of service in qualifying judicial offices that were subject to his last existing scheme (expressed in years and days) excluding any period during which an election referred to in section 13(8) of the 1993 Act is in force; and
(b) B is the service multiplier appropriate to the member in respect of his last existing scheme.
(2) For the purpose of the calculation—
(a) the number of days in A shall be expressed in decimal form to four decimal places by dividing them by 365; and
(b) the decimal part of the product A × B shall be converted back into days by multiplying it by 365.
(3) The transfer value arrived at by applying the formula shall be rounded up to the next full day.
(4) Where a member holds two qualifying judicial offices concurrently, no day shall be counted more than once.

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Source: https://www.legislation.gov.uk/uksi/1995/636/regulation/5 (the official version)
Page: https://openlegislation.uk/judicial-pensions-transfer-between-judicial-pension-schemes-regulations-1995/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.