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The Judicial Pensions Regulations (Northern Ireland) 2015
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- Northern Ireland Statutory Rules
- 2015 No. 76
- PART 7
- Regulation 86
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Option to buy out early payment reduction
86.—(1) A pension credit member who claims early payment of a pension credit member’s pension may opt to buy out the early payment reduction.
(2) The option may only be exercised by notice to the scheme manager in a form required by the scheme manager.
(3) The scheme manager must prepare actuarial tables setting out the cost of buying out the early payment reduction.
(4) The pension credit member must meet the cost by making a payment to this scheme calculated in accordance with actuarial tables prepared in accordance with paragraph (3).
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