PART 3RETIREMENT BENEFITS
Annual rate of preserved pension
18.—(1) The annual rate of a pension to which a member (“P”) is entitled under regulation 17 is determined under paragraph (3) or (5) (whichever applies).
(2) Paragraph (3) applies where, on retirement—
(a)P has reckonable service in one or more eligible fee-paid judicial offices, and
(b)P did not, at any time before retirement, hold two or more eligible fee-paid judicial offices simultaneously.
(3) The annual rate is determined in accordance with the following formula—
where—
R is the maximum amount of reckonable service which P would be able to accrue if P continued in eligible fee-paid judicial office until the date on which P reaches normal pension age, assuming that P would have accrued reckonable service each year until that date equal to—
where—
N is the reckonable service which P accrued before the date on which P retired, calculated under regulation 5(1) as though regulation 5(2) did not apply;
Z is the period, or the aggregate of the periods, expressed in years and any fraction of a year during which P held one or more eligible fee-paid judicial offices, disregarding any day in respect of which the conditions in regulation 4(2) (qualifying fee-paid days) are not met;
S is the appropriate annual salary of the judicial office held by P immediately before retirement;
Z has the meaning given in sub-paragraph (a)(ii);
Y is the period, expressed in years and any fraction of a year, beginning with the day on which P retired and ending with the day on which P reaches normal pension age.
(4) Paragraph (5) applies where—
(a)on retirement P has reckonable service in more than one eligible fee-paid judicial office (“the relevant offices”), and
(b)at any time before retirement, P held two or more relevant offices simultaneously.
(5) The annual rate is determined by taking the following steps—
Step 1
Determine the annual rate under paragraph (3) of this regulation in relation to those relevant offices which P did not hold simultaneously with another relevant office, and for these purposes, in paragraph (3)(b), S is—
(i)where P held a single judicial office immediately before retirement, the appropriate annual salary of that judicial office;
(ii)where P held more than one judicial office immediately before retirement, the highest appropriate annual salary of those offices.
Step 2
Determine the annual rate under paragraph (3) of this regulation, in relation to each relevant office which P held simultaneously, as if—
(i)that office were the only office in which P had reckonable service on retirement (except in determining the maximum amount in relation to that office under regulation 5), and
(ii)P held that office (and held no other judicial office) immediately before retirement.
Step 3
Add together the rate found under Step 1 and each of the rates found under Step 2.
(6) Paragraph (7) applies where—
(a)during one or more parts of the period for which P held an eligible fee-paid judicial office (“office A”), P held one or more other eligible fee-paid judicial offices simultaneously, and
(b)during one or more parts of that period P held no eligible fee-paid judicial office other than office A.
(7) For the purposes of paragraph (5)—
(a)office A is to be treated as two different relevant offices—
(i)the first of which (“the first office”) is held for the period (or the aggregate of the periods) mentioned in paragraph (6)(a), and accordingly, is taken into consideration in Step 1 in paragraph (5), and
(ii)the second of which (“the second office”) is held for the period (or the aggregate of the periods) mentioned in paragraph (6)(b) and, accordingly is taken into consideration in Step 2 in paragraph (5); and
(b)P’s reckonable service in office A is to be apportioned between the first and the second offices in the same proportion as that between the period P held the first office and the period P held the second office.