The Judicial Pensions Regulations 2022

Restriction on total amount of pension that may be allocated

64.—(1) The sum of the following must not exceed the annual rate of retirement pension that would be payable to the member (P)—

(a) the total amount of retirement pension allocated under this Part (“total allocation amount”); and

(b) the annual rate of surviving adult’s pension that would be payable on P’s death.

(2) In determining whether the restriction in paragraph (1) is met, it is to be assumed that—

(a) P will have become a pensioner member before P’s death;

(b) P will exercise the commutation option so as to exchange for a lump sum the maximum amount possible;

(c) P’s spouse or civil partner status will not change before P dies; and

(d) all of the beneficiaries of P to whom an allocation is made will survive P.

(3) If at the time an allocation election is made it would result in the restriction in paragraph (1) not being met, the scheme manager may treat the election (or each of the elections) as allocating a smaller amount that would result in the restriction being met.