2. In these Regulations –
“the 2004 Act” means the Finance Act 2004(1);
“the 2015 regulations” means the Judicial Pensions Regulations 2015(2);
“the 2015 scheme” means the judicial pension scheme created by the 2015 regulations;
“active member” means a person who is in pensionable service under the 2015 scheme;
“AVC member” means an active member who has given a notice under regulation 6(2);
“AVC scheme” means the scheme established under regulation 3;
“authorised provider” has the same meaning as in section 1(9) of the Superannuation Act 1972(3);
“Judicial Pension Board” means the Judicial Pension Board established by regulation 6(1) of the 2015 regulations in accordance with regulations 7 and 8 of those regulations;
“judicial pension scheme” means the 2015 scheme or the scheme constituted by the Judicial Pensions (Additional Voluntary Contributions) Regulations 1995(4);
“normal minimum pension age” has the same meaning as in section 279(1) (other definitions) of the 2004 Act;
“pensionable service” has the same meaning as in Chapter 2 of Part 4 of the 2015 regulations;
“qualifying recognised overseas pension scheme” has the meaning given in section 169(2) of the 2004 Act(5);
“registered scheme” means a pension scheme that is a registered pension scheme under Chapter 2 of Part 4 of the 2004 Act;
“AVC scheme assets” means the total value of A minus B, where—
A is the sum of the realisable value of the investments made by the scheme manager with the contributions paid by the AVC member, plus any transfer value accepted under regulation 10; and
B is the sum of—
any amount deducted for tax under regulation 15;
the fees or charges of an authorised provider in relation to the investments made by the scheme manager defrayed in accordance with regulation 16; and
any amount that has already been transferred out of the AVC scheme under regulation 14.
“scheme contributions” means the total of payments made under regulation 9(2)(a), (b) and (c);
“scheme manager” has the meaning given in regulation 4;
“tax year” has the meaning given in section 4(2) of the Income Tax Act 2007(6) (as applied by section 989 of that Act).
1972 c. 11; section 1(9) was amended by S.I. 2001/3649 Part. 3, article 106(3) and the Financial Services Act 2012 (c. 21), Schedule 18(2), paragraph 35.
S.I. 1995/639, as amended by S.I. 1996/52, 2000/342, 2005/2506, 2005/3325, 2006/747, 2007/1898, 2012/516, and the Employment Rights (Dispute Resolution) Act 1998 (c. 8).
Amended by the Finance Act 2013 (c. 29) Part 1, Chapter 4, section 53(5)(a).