The Judicial Pensions (Remediable Service etc.) Regulations (Northern Ireland) 2023 No. 107

PART 5 N.I. Pension Credit Members

CHAPTER 3 N.I. Provision where all remediable service subject to a relevant pension sharing order was in a judicial legacy scheme

Application of Chapter N.I.

51.  This Chapter applies where—

(a) a relevant pension credit member (“C”) has rights in respect of a pension credit in a judicial legacy scheme,

(b) the corresponding debit member in relation to C (“P”) is subject to a pension debit in a judicial legacy scheme, and

(c) all of P’s remediable service beginning on 1st April 2015 and ending on the day before the transfer day is, disregarding any legacy scheme election or 2015 scheme election made in respect of P, pensionable service in a judicial legacy scheme.

Commencement Information

I1 Reg. 51 in operation at 24.7.2023, see reg. 1(b)

Adjustments for pension credit members N.I.

52.—(1) The scheme manager must, after consultation with the scheme actuary and before the beginning of the relevant period, provide C with a statement of—

(a) C’s 2015 scheme remediable pension amount,

(b) C’s legacy scheme remediable pension amount, and

(c) C’s remediable pension credit.

(2) Where the value of C’s 2015 scheme remediable pension amount exceeds the value of C’s legacy scheme remediable pension amount, both calculated on the valuation day at the end of the relevant period, C becomes entitled to a remediable pension credit, such credit to take effect as if it had been added to C’s rights in C’s judicial legacy scheme on the transfer day.

(3) Where C becomes entitled to a remediable pension credit under this regulation, C is entitled to rights under paragraph 1 of Schedule 2A to JUPRA 1993 in respect of that remediable pension credit.

(4) In this regulation—

“2015 scheme remediable pension amount” means—

(a)

where the pension sharing order specified a percentage value to be transferred from P’s judicial legacy scheme, the specified percentage of the cash equivalent of P’s relevant benefits on the valuation day calculated as if the relevant benefits were in the 2015 scheme;

(b)

where the pension sharing order specified an amount to be transferred from P’s judicial legacy scheme, the percentage which this amount represented of the cash equivalent of P’s relevant benefits in P’s judicial legacy scheme on the valuation day (disregarding any 2015 scheme election), calculated instead as if P’s relevant benefits were in the 2015 scheme;

“legacy scheme remediable pension amount” means—

(a)

where the pension sharing order specified a percentage value to be transferred from P’s judicial legacy scheme, the specified percentage of the cash equivalent of P’s relevant benefits on the valuation day calculated as if the relevant benefits were in P’s judicial legacy scheme;

(b)

where the pension sharing order specified an amount to be transferred from P’s judicial legacy scheme, the percentage which this amount represented of the cash equivalent of P’s relevant benefits in P’s judicial legacy scheme on the valuation day (disregarding any 2015 scheme election) calculated as if the relevant benefits were in P’s judicial legacy scheme;

“remediable pension credit” means the greater of—

(a)

zero, and

(b)

the 2015 scheme remediable pension amount minus the legacy scheme remediable pension amount.

Commencement Information

I2 Reg. 52 in operation at 24.7.2023, see reg. 1(b)

Adjustments for pension debit members where a 2015 scheme election is made N.I.

53.—(1) This regulation applies where a 2015 scheme election is made in respect of P.

(2) At the end of the relevant period, the scheme manager must adjust the value of P’s shareable rights in P’s judicial legacy scheme and 2015 scheme as the scheme manager, after consultation with the scheme actuary, considers appropriate having regard to—

(a) the cash equivalent of P’s shareable rights in P’s judicial legacy scheme in respect of P’s service up to and including 31 March 2015,

(b) the cash equivalent of P’s shareable rights in the 2015 scheme in respect of P’s remediable service from 1 April 2015 to the day before the transfer day,

(c) the percentage value or the amount to be transferred specified in the pension sharing order in respect of a judicial legacy scheme, and

(d) the provisions of Articles 26 (creation of pension credits and debits) and 28 (reduction of benefit) of WRP(NI)O 1999.

(3) The adjustment made under paragraph (2) has effect from the transfer day.

Commencement Information

I3 Reg. 53 in operation at 24.7.2023, see reg. 1(b)