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The Judicial Pensions Regulations 2015
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CHAPTER 1Exercising the added pension option
Added pension option exercisable by member
7.—(1) An active member of this scheme may opt to make added pension payments to increase—
(a)the member’s retirement benefits for a period of service; or
(b)both the member’s retirement benefits and death benefits payable in respect of the member for a period of service.
(2) A member may exercise the added pension option by notice to the scheme manager in a form required by the scheme manager.
(3) The option notice must state whether the added pension payments are to be made by—
(a)periodical payments; or
(b)a lump sum payment.
(4) A member may exercise the added pension option more than once but an option to make a lump sum payment for added pension may only be exercised once in any scheme year.
(5) An option to make a lump sum payment for added pension may only be exercised if the member—
(a)has been an active member of this scheme in relation to a continuous period of pensionable service for at least 12 months; and
(b)has been provided with a statement of the amount of added pension (if paragraph 18 applies).
Added pension option exercisable by employer or third party
8.—(1) A third party or the employer of an active member of this scheme may, if the scheme manager approves, opt to make a lump sum payment for added pension to increase—
(a)the member’s retirement benefits for a period of service; or
(b)both the member’s retirement benefits and death benefits payable in respect of the member for a period of service.
(2) The employer or third party may exercise an added pension option by notice to the scheme manager in a form required by the scheme manager.
(3) The employer or third party may exercise an added pension option more than once but only once in any scheme year.
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