- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Judicial Pensions Regulations 2015 No. 182
77.—(1) This regulation applies where there is a medical certificate stating that an active member or deferred member of this scheme has a life-expectancy of less than 12 months.
(2) The member may opt under this regulation to exchange the whole of the member’s accrued pensions for a lump sum.
(3) An option under this regulation may only be exercised before the first payment of the pension is made.
(4) The lump sum payable to the member is an amount equal to—
where—
A means the total annual amount of full retirement pension;
B means the total annual amount of partial retirement pension; and
C means the total annual amount of ill-health pension.
(5) For the purpose of paragraph (4), “total annual amount” means—
(a)in relation to a full retirement pension or partial retirement pension to which the member would be entitled apart from this option, the sum of—
(i)the annual rate of pension to which the member would be entitled apart from this option, calculated as at the date the option is exercised, but without subtracting the early payment reduction (if any); and
(ii)the amount of increase (if any) in the annual rate of that pension under PIA 1971 calculated as at that date; and
(b)in relation to an ill-health pension, the sum of—
(i)the annual rate of pension to which the member would be entitled apart from this option, calculated as at the date when payment would first be due, but without subtracting the early payment reduction (if any); and
(ii)the amount of increase (if any) in the annual rate of that pension under PIA 1971 calculated as at that date.
(6) The lump sum must be paid to the member as soon as is reasonably practicable after the option is exercised.
The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Draft Explanatory Memorandum sets out a brief statement of the purpose of a Draft Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Draft Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: