Member’s option to make a lump sum payment for added pension
- Member may choose to make a lump-sum payment to buy added pension
UK Statutory Instrument
2015
United Kingdom
The Judicial Pensions Regulations 2015
At a glance
What's here
3 compliance obligations
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Schedules
Browse 71 other Schedules — structural / supplementary
Interpretation
Member’s option to make periodical payments for added pension
Cancellation of option by member
Periodical payments
Amount of added (self only) pension for a scheme year (periodical payments)
Amount of added (all beneficiaries) pension for a scheme year (periodical payments)
Application of Chapter
Statement of amount of added pension
Amount of added (self only) pension (lump sum payment)
Amount of added (all beneficiaries) pension (lump sum payment)
Meaning of “amount of extra pension”
Application of Chapter
Employer or third party option to make a lump sum payment for added pension
Amount of added (self only) pension (lump sum payment)
Amount of added (all beneficiaries) pension (lump sum payment)
Added pension payment or purported added pension payment in respect of judges with remediable service
Purported added pension in respect of relevant fee-paid judges
Effective pension age option exercisable by member
Exercising the effective pension age option
Payment of pension at effective pension age
Member ceases to be in pensionable service under this scheme
Cancellation of option
Value of an effective pension age option
Meaning of “overall limit of extra pension”
Amount of periodical payments
Periodical payment period
Periodical payments during period of assumed pay
Limit on added pension options
Amount of accrued added pension may not exceed overall limit of extra pension
Actuarial advice
Added pension option exercisable by member
Added pension option exercisable by employer or third party
Application of Chapter
Interpretation
Exception for tapered protection members during protection period
Tapered protection member not eligible to join this scheme
Member of an existing scheme on scheme closing date
Members moving between schemes after the scheme closing date
Members with previous service in a fee-paid office
Option to begin pensionable service before the transition date
Transition member who has not reached normal pension age under a relevant scheme
Annual rate of surviving adult’s pensions payable under this scheme when a transition member dies in service
Annual rate of eligible child’s pension payable under this scheme when a transition member dies in service
Death in service lump sum
Death out of service lump sum
Meaning of “continuity of service”
Pensionable service under an existing scheme
Repayment of contributions under a relevant scheme
Qualifying for retirement benefits under the existing scheme
Nomination under a relevant scheme continues to have effect
Meaning of “tapered protection closing date”
Meaning of “active member of an existing scheme “
Commencement of active membership of this scheme
Exception for full protection members during protection period
Full protection member not eligible to join this scheme
Members of an existing scheme on scheme closing date
Members moving between schemes after the scheme closing date
Members with previous service in a fee-paid office
Application of this Part
Transfer values regulations
Cash transfers and contribution refunds
Amendments to the Judicial Pensions and Retirement Act 1993
Amendments to the Judicial Pensions Act 1981
Contracting-out
Application of this Part
Certification
Preservation of benefit
Revaluation of preserved benefit
Protection of increases in guaranteed minimum pensions
Protection of increases in guaranteed minimum pensions after abolition of contracting-out
Transfer values
Employers’ contributions
- Pay employer contributions and administration charges to the pension scheme
Information to be provided by employers
- Provide requested information to the judicial pension scheme manager
Browse 170 other sections — procedural / definitional / commencement
Citation and commencement
Interpretation
Establishment and scope
Scheme manager
Delegation
Judicial Pension Board: establishment
Judicial Pension Board: membership
Judicial Pension Board: conflicts of interest
Scheme advisory board: establishment
Scheme advisory board: membership
Scheme advisory board: conflicts of interest
Payment of fees and expenses
Qualifying judicial office
Qualifying judicial offices with retrospective entitlements
Eligible persons
Service in 2 or more qualifying judicial offices
Application of Chapter
Enrolment
Opting into this scheme
When does an option in take effect
Opting out of this scheme
Opting out before the end of one month
Opting out after one month
Pensionable earnings
Meaning of “assumed pay”
Meaning of “deferred member”
Descriptions of accrued pension
Descriptions of full retirement pension
Descriptions of partial retirement pension
Calculation of “retirement index adjustment”
Determination of “the age addition”
Determination of “the assumed age addition”
Calculation of amount of accrued pension for purpose of deferment or full retirement
Calculation of amount of accrued pension for purpose of partial retirement
Establishment of pension accounts: general
Closure and adjustment of pension accounts on transfer out
Application of Chapter
Purported transfer value payment
Establishment of active member’s account
Receipt of a transfer value payment
Transfer value payment or purported transfer value payment in respect of judges with remediable service
Purported transfer value payment in respect of relevant fee-paid judges
Amount of pension for a scheme year
Opening balance, index adjustment and age addition
Closure of active member’s account
Application of Chapter
Establishment of deferred member’s account
Provisional amount of deferred pension
Adjustment of provisional amount
Closure of deferred member’s account after gap in pensionable service not exceeding 5 years
Establishment of full retirement account
Amount of full retirement pension
Closure of full retirement account
Establishment of partial retirement account
Amount of partial retirement pension
Establishment of pension credit member’s account
Other pension accounts
Application of Part
Qualifying service
Entitlement to full retirement pension
Annual rate of full retirement pension (active members)
Annual rate of full retirement pension (deferred members)
Full retirement pension ceases to be payable
Exercise of partial retirement option
Partial retirement option notice
Option proportion
Entitlement to partial retirement pension or full retirement pension
Annual rate of partial retirement pension
Annual rate of full retirement pension
Meaning of “permanent breakdown in health”
Meaning of “incapacity for employment”
Entitlement to ill-health pension
Annual rate of ill-health pension
Deferment of accrued earned pension attributable to a transfer value payment
Deferment of added pension attributable to recent payments
Options under this Chapter
Exercising an option under this Chapter
Option to buy out early payment reduction
Option to defer payment of added pension
Option to commute part of pension
Option to commute whole of member’s accrued pensions (serious ill-health)
Allocation election
Restriction on total amount of pension that may be allocated
Making an allocation election
Effect of allocation election
Adjustment of allocated benefit (members who have reached the age of 75)
Entitlement to pension credit member’s pension
Claim for early payment
Annual rate of pension credit member’s pension
Option to buy out early payment reduction
Reduction in pension debit member’s benefits
Pension credit member’s rights
Option for pension credit member to commute part of pension
Option for pension credit member to commute whole pension (serious ill-health)
Surviving adults
Meaning of “surviving nominated partner”
Meaning of “surviving adult’s pension”
Meaning of dependant’s earned pension
Meaning of dependant’s ill-health pension
Meaning of “dependant’s added pension”
Entitlement to surviving adult’s pension
Annual rate of surviving adult’s pensions payable on death of pensioner member
Annual rate of surviving adult’s pensions payable on death of deferred member
Annual rate of surviving adult’s pensions payable on death of active member (death in service)
Reduction in pensions in cases of wide age disparity
Meaning of “eligible child’s pension”
Meaning of “eligible child”
Eligible child’s pension
Annual rate of eligible child’s pension
Payment of pensions under this Part
Stopping payment and recovery of pensions paid under this Part
Provisional awards of eligible child’s pensions: later adjustments
Adjustment of benefits to comply with FA 2004 where members die over the age of 75
Guaranteed minimum pensions for surviving spouses and civil partners
Payment of lump sum death benefit
Nominations for lump sum death benefits
Invalid nominations of individuals
Payment of lump sum death benefit to nominees or personal representatives
Members affected by court orders to former spouses and civil partners on death
Pension protection lump sum death benefit
Recovery of payments
Payment of pension instead of lump sum for members who have reached the age of 75
Meaning of “final pay”
Meaning of “annualised final pay”
Amount payable on death of active member (death in service)
Amount payable on death of deferred member or pensioner member (death out of service)
Amount payable on death of pension credit member
Rate of member contributions
Amount of pensionable earnings
Payment of member contributions
Deduction of payments for extra pension under Schedule 1
Refund of all member contributions and payments for extra pension made by the member
Refund of payments for extra pension made by the member
Application of Part
Interpretation of Part
Transfer value payments made to other schemes or pension arrangements
Application for a statement of entitlement
Statement of entitlement
Request for transfer value payment to be made
Calculating the amount of a transfer value
Effect of transfers-out
Application of Chapter
Interpretation of Chapter
Transfer payment requests
Transfer statement
Amount of transferred pension
Appointment of scheme actuary and actuarial valuations
Employer cost cap
Meaning of “dual capacity member”
Payment of benefits to or in respect of a dual capacity member
Late payment of retirement index adjustment
Commutation of small pensions
Guaranteed minimum pensions
Forfeiture: offences committed by members
Forfeiture: offences committed by a member’s beneficiary
Forfeiture: relevant monetary obligations and relevant monetary losses
Set-off
Scheme manager to be scheme administrator for the purposes of Part 4 of Finance Act 2004
Payment on behalf of members of lifetime allowance charge
Reduction of benefits where lifetime allowance charge payable
Information about payment of annual allowance charge
Reduction of benefits where annual allowance charge paid by scheme manager
General prohibition on unauthorised payments
Calculation of periods of membership and service
Determination of questions
Evidence of entitlement
Provision of benefit information statements to members
Transitional provisions
Modifying provisions and amendments
Financial provision
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