uksi/2015/533 — The Judicial Pensions (Miscellaneous) (Amendment) Regulations 2015

2015 No. 533 Pensions 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 , 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 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 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) 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.