Contributions by retired JASAPS membersU.K.
121.—(1) The maximum contribution that may be made to the JASAPS by a retired JASAPS member (“R”) is the smaller of—
(a)the amount determined in accordance with the formula—
where—
(i)N is the maximum number of units which R is entitled to purchase under regulation 119(2), and
(ii)C is the contribution payable by R for each unit of £1,000 of added surviving adult's pension under regulation 120(1) or 120(2).
(b)the amount equal to the sum of the amounts determined for each tax year during the period beginning with the assumed contribution commencement date and ending with the day on which R retired in accordance with the following formula—
where—
(i)FI is R's annual fee income for the tax year in question which is subject to income tax, or if lower, the permitted maximum for that tax year, and
(ii)C is the sum of any contributions made by R to any other judicial pension scheme (including voluntary contributions schemes) in that tax year, excluding any contributions made by the member in accordance with regulation 3 of the Judicial Pensions (Contributions) Regulations 2012 F1.
(2) For the purposes of paragraph (1)(b)(i), R's “annual fee income” is the total of the fees paid to R in respect of qualifying fee-paid days in the tax year concerned.
(3) Contributions to the JASAPS by R must be made by lump sum payment made by R to the administrators within 12 months from the date on which R served notice under regulation 117(2).
Textual Amendments
F1S.I. 2012/516. Regulation 3 was substituted by S.I. 2016/30.