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The Judicial Pensions Regulations 2022

Changes over time for: Section 21

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Calculation of “retirement index adjustment”U.K.

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21.—[F1(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).]

(2) The retirement index percentage is—

AxB/12

where—

  • A means the [F2in-service revaluation index] that applies in relation to this scheme for the leaving year;

  • B is the number of complete months in the period between the beginning of the leaving year and the end of the relevant last day; and

  • “complete month” includes an incomplete month that consists of at least 16 days.

[F3(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.]

Textual Amendments

Commencement Information

I1Reg. 21 in force at 1.4.2022, see reg. 1(4)

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