The Judicial Pensions (Miscellaneous) (Amendment) Regulations 2015
Made: 4th March 2015
Laid before Parliament: 9th March 2015
Coming into force: 1st April 2015
The Lord Chancellor and, in relation to the judicial offices whose jurisdiction is exercised exclusively in Scotland, the Secretary of State, in exercise of the powers conferred on them by section 2(7)(e) of the Judicial Pensions and Retirement Act 1993[^f00001], and with the concurrence of the Treasury, make the following Regulations:
Citation and commencement
1
These Regulations may be cited as the Judicial Pensions (Miscellaneous) (Amendment) Regulations 2015 and come into force on 1st April 2015.
Revised proposed early retirement factors
2
For the table in the Schedule to the Judicial Pensions (Miscellaneous) Regulations 1995[^f00002] substitute—
| Age | Actuarial Reduction Factor |
|---|---|
| 30 | 0.268 |
| 31 | 0.276 |
| 32 | 0.284 |
| 33 | 0.292 |
| 34 | 0.300 |
| 35 | 0.309 |
| 36 | 0.318 |
| 37 | 0.328 |
| 38 | 0.338 |
| 39 | 0.348 |
| 40 | 0.359 |
| 41 | 0.370 |
| 42 | 0.382 |
| 43 | 0.395 |
| 44 | 0.408 |
| 45 | 0.422 |
| 46 | 0.436 |
| 47 | 0.452 |
| 48 | 0.468 |
| 49 | 0.486 |
| 50 | 0.504 |
| 51 | 0.524 |
| 52 | 0.545 |
| 53 | 0.568 |
| 54 | 0.593 |
| 55 | 0.619 |
| 56 | 0.647 |
| 57 | 0.677 |
| 58 | 0.708 |
| 59 | 0.742 |
| 60 | 0.778 |
| 61 | 0.816 |
| 62 | 0.858 |
| 63 | 0.902 |
| 64 | 0.949 |
| 65 | 1.000 |
Signed
Chris Grayling — Lord Chancellor — Ministry of Justice — 26th February 2015
Alistair Carmichael — One of Her Majesty’s Principal Secretaries of State — 4th March 2015
We concur
David Evennett — Alun Cairns — Two of the Lords Commissioners of Her Majesty’s Treasury — 2nd March 2015
Explanatory note
(This note is not part of the Regulations)
EXPLANATORY NOTE
These Regulations substitute a new table in the Schedule to the Judicial Pensions (Miscellaneous) Regulations 1995 (S.I. 1995/632), revising the actuarial factors used to calculate a pension on early retirement. These Regulations will result in judicial office holders receiving a slightly higher pension on early retirement.
An impact assessment has not been prepared for this instrument as no impact on the costs of business or the voluntary sector is foreseen.
Footnotes
[^f00001]: 1993 c.8; the power to make these Regulations is vested in the “appropriate Minister” as defined in section 30(1) as (a) in relation to any judicial office whose jurisdiction is exercised exclusively in relation to Scotland, the Secretary of State, or, (b) subject to (a), the Lord Chancellor.
[^f00002]: S.I. 1995/632.
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