The Judicial Pensions (Additional Voluntary Contributions) Regulations 1995

Limits on the added benefits that may be purchased under the JABS

4.5.—(1) For the purposes of this regulation —

• “aggregated retirement benefit” has the meaning given to it in regulation 2.1 and shall be determined in accordance with regulation 2.8; and

• “lump sum benefit” means the aggregate of the lump sum benefits that may be paid to the member from the sources set out in regulation 2.8(1).

(2) The administrators shall require the provision of information relating to retained benefits and retained death benefits in accordance with regulations 2.3 and 2.4.

(3) The aggregated retirement benefit shall not exceed the figure calculated in accordance with regulation 2.12(1).

(4) The lump sum benefit shall not exceed the figure calculated in accordance with sub-paragraphs (a) or (b) as appropriate—

(a) on retirement at the member’s normal pension age the appropriate fraction of final salary (as defined in regulation 2.1) ascertained in accordance with the scale set out in the Occupational Pension Schemes (Maximum Rate Lump Sum) Regulations 1987(1) as amended from time to time; and

(b) on retirement before the member’s normal pension age on the ground of ill-health, the fraction of final salary ascertained in accordance with the scale set out in the Occupational Pension Schemes (Maximum Rate Lump Sum) Regulations 1987, as amended from time to time, which the member could have received had he remained in service until his normal pension age.

(5) Added units of benefit in the JABS may be purchased up to such amount as the administrators determine will provide benefits equal to the lesser of the aggregated retirement benefit and the lump sum benefit.

(1)

S.I. 1987/1513.