Citation and commencement

1.  These Regulations may be cited as the Judicial Pensions (Contributions) (Amendment) Regulations 2016 and come into force on 5th February 2016.

Amendment of the Judicial Pensions (Contributions) Regulations 2012

2.-(1) The Judicial Pensions (Contributions) Regulations 2012(4) are amended as follows.

(2) For regulation 3 (rate of contributions) substitute-

"3.-(1) Contributions under-

(a)section 8A of the 1960 Act;

(b)section 33ZA of the 1981 Act, or

(c)section 9A of the 1993 Act,

must be made as follows.

(2) A person who, when their salary becomes due, has an annual salary of £150,000 or less must make contributions at a rate of 2.61% of their salary for the time being as it becomes due.

(3) A person who, when their salary becomes due, has an annual salary of more than £150,000 must make contributions at a rate of-

(a)2.61% of their salary up to and including £150,000, and

(b)4.43% of their salary in excess of £150,000,

for the time being as it becomes due.".

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations change the rate at which contributions are to be paid by members of judicial pension schemes established in accordance with the District Judges (Magistrates' Courts) Pensions Act (Northern Ireland) 1960 (c. 2 (N.I.)), the Judicial Pensions Act 1981 (c. 20) and the Judicial Pensions and Retirement Act 1993 (c. 8). The rate is changed so that members of those judicial pension schemes pay the same rate of contributions paid by members of the pension scheme established by the Judicial Pensions Regulations 2015 (S.I. 2015/182), after tax relief.

A full impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.