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The Judicial Pensions (Remediable Service etc.) Regulations 2023

Compensation for [F1purported] special payments to buy out early payment reductionU.K.

This section has no associated Explanatory Memorandum

23.—(1) This regulation applies where P has, during the period of remediable service, made any [F2purported] special payments F3....

(2) [F4For the avoidance of doubt, any rights] that would otherwise have been secured by the [F2purported] special payments [F5, had P been entitled to make them,] are extinguished.

(3) The scheme manager must pay to the appropriate person an amount by way of compensation equal to—

(a)the aggregate of the [F2purported]special payments made by P, less

(b)an amount determined by the scheme manager in respect of the value of the tax relief under section 188 of FA 2004 (member contributions) to which P [F6would have been] entitled in respect of those payments [F7had P been entitled to make them].

(4) Where determining the tax relief amount under paragraph (3)(b), the scheme manager may adopt an approach which is reasonable in all the circumstances to approximate those amounts.

(5) The following provisions of the PSP Directions 2022 apply in relation to a determination under paragraph (3)(b) as they apply in relation to a determination under direction 23(2)—

(a)direction 23(4) (provision of explanation);

(b)direction 23(5) and (6) (appeals).

Textual Amendments

Commencement Information

I1Reg. 23 in force at 5.7.2023, see reg. 1(b)