The Judicial Pensions (Fee-Paid Judges) Regulations 2017

Interpretation

90.  In this Part—

“the 2004 Act” means the Finance Act 2004(1);

“authorised provider” has the same meaning as in section 1(9) of the Superannuation Act 1972(2);

“historic contributions” mean contributions which a JAVC member would have been able to make to the JAVC scheme during the period beginning with 7th April 2000 and ending with the day before the commencement day if the JAVC scheme had been established on 7th April 2000;

“JAVC member” means a member of the principal scheme who has given a notice under regulation 91(2);

“the JAVC scheme” means the Fee-Paid Judicial Additional Voluntary Contributions Scheme constituted by this Part;

“judicial pension scheme” means the scheme constituted by the Judicial Pensions Regulations 2015(3), or any scheme constituted by the 1995 Regulations;

“qualifying recognised overseas pension scheme” has the meaning given in section 169(2) of the 2004 Act(4);

“scheme assets” means the total value of A minus B, where—

(a)

A is the sum of the realisable value of the investments made by the authorised provider with the JAVC member’s contributions under regulation 94 and any transfer payment accepted under regulation 96; and

(b)

B is the sum of—

(i)

any amount deducted in respect of tax under regulation 101;

(ii)

the fees or charges of an authorised provider in relation to those investments defrayed in accordance with regulation 102; and

(iii)

any amount that has been transferred out of the scheme under regulation 100;

“scheme contributions” means the total of payments made under regulation 94(2).

(1)

2004 c. 12

(2)

1972 c. 11; section 1(9) was amended by S.I. 2001/3649 and paragraph 35 of Schedule 18 to the Financial Services Act 2012 (c. 21).

(3)

S.I. 2015/182.

(4)

Section 169 was amended by section 53(5)(a) of the Finance Act 2013 (c. 29).