The Judicial Pensions (Transfer of Accrued Benefits) Regulations 1995

Section 19 scheme: calculation of cash equivalents

7.—(1) The cash equivalent of accrued benefits on a transfer out of the section 19 scheme shall be calculated in accordance with the formula —

(a) MLA × (p × PP + l × LL + w × WMM) in respect of a qualifying member who is married at the date of leaving the section 19 scheme; or

(b) MLA × (p × PP + l × LL) in respect of a qualifying member who is unmarried at the date of leaving the section 19 scheme.

(2) For the purpose of the calculations in paragraph (1) —

(a) p, l and w shall have the meanings given to them in regulation 6 except that references to the Part I scheme shall be taken to be references to the section 19 scheme;

(b) PP is the pension factor set out in Table 4 applicable to the qualifying member’s age last birthday as at the relevant date;

(c) LL is the lump sum factor set out in Table 4 applicable to the qualifying member’s age last birthday as at the relevant date; and

(d) WMM is the spouse’s factor set out in Table 4 applicable to the qualifying member’s age last birthday as at the relevant date.