The JuPRA regulations contain hard coded tables of factors for calculating transfer values found in the Judicial Pensions regulations. We understand that MOJ policy is to offer the higher of:

• The transfer value available under the overriding DWP legislation (calculated based on the guidance in this note); and
• The transfer value that would be available through the JuPRA regulations.

The factors contained in the consolidated factors workbook will always result in a higher transfer value than the factors available through the JuPRA regulations, so there is currently no requirement to complete both calculations. If this situation changes as a result of future factor reviews, GAD will issue additional guidance.

If an active or deferred member wishes to obtain a CETV or cash equivalent on divorce quotation, the formula is:

CETV = (accrued pension x F_1A^P) + (accrued partner's pension x F_1A^S) + (accrued lump sum x F_1A^LS)

Where:

accrued pension is the member's accrued annual pension in JuPRA at the relevant date. Where applicable and appropriate to do so, this should include an allowance for salary linkage or pension increases under the Pensions (Increase) acts between the date of leaving the scheme and the relevant date.

accrued partner's pension is the accrued annual partner's pension in JuPRA at the relevant date. Where applicable and appropriate to do so, this should include an allowance for salary linkage or pension increases under the Pensions (Increase) Acts between the date of leaving the scheme and the relevant date. This amount should be included in the calculation regardless of whether the member has a qualifying partner at the relevant date.

accrued lump sum is the member's accrued lump sum in JuPRA at the relevant date, less any deductions in respect of unpaid JuPRA contributions. Where applicable and appropriate to do so, this should include an allowance for salary linkage or pension increases under the Pensions (Increase) Acts between the date of leaving the scheme and the relevant date. Judicial Service Awards should not be included.

F_1A^P, F_1A^S and F_1A^LS are from Table 1A (Table 201 in the consolidated factor workbook). The factors are to be taken at the member's age last birthday at the relevant date.

If a normal or ill health pensioner wishes to obtain a cash equivalent on divorce quotation, the formula is:

CETV = (annual pension x F_2A^P) + (accrued partner's pension x F_2A^S)

Where:

annual pension is the member's annual JuPRA pension in payment at the relevant date. Where applicable, this should include pension increase sunder the Pensions (Increase) Acts between the date of leaving the scheme and the relevant date. It should also include any step-up due to Guaranteed Minimum Pension, even if not yet in payment.

accrued partner's pension is the accrued annual partner's pension in JuPRA at the relevant date. Where applicable, this should include pension increases under the Pensions (Increase) Acts between the date of leaving the scheme and the relevant date. This amount should be included in the calculation regardless of whether the member has a qualifying partner at the relevant date.

F_2A^P and F_2A^S are from Table 2A (Table 301 in the consolidated factor workbook). The factors are to be taken at the member's age last birthday at the relevant date.

To calculate a pension credit for a member where the pension debit member has not yet received their lump sum, the formula is:

Pension credit = Amount of cash equivalent on divorce awarded to pension credit member / [F_3A^P+(2.25 x F_3A^LS)]

Where:

Amount of cash equivalent on divorce awarded to pension credit member is either

1. If the pension credit member has been awarded an amount in pounds, the amount that has been awarded; or
2. If the pension credit member has been awarded a percentage of the member's cash equivalent, the percentage that has been awarded multiplied by the member's cash equivalent calculated in line with the methodology set out in the Active and deferred member CETVs and cash equivalents on divorce or Normal and ill health pensioner cash equivalents on divorce sections above.

F_3A^P and F_3A^LS are from Table 3A (Table 303 in the consolidated factor workbook). The factors are to be taken at the pension credit member's age last birthday at the relevant date.

The pension credit member will receive a lump sum on retirement but will not receive an attaching partner's pension.

The equivalent pension debit should be calculated in line with the 1999 Act.

To calculate a pension credit for a member where the pension debit member has already received his/her lump sum, the formula is:

Pension credit = Amount of cash equivalent on divorce awarded to pension credit member / F_4A^P

Where:

Amount of cash equivalent on divorce awarded to pension credit member is either

1. If the pension credit member has been awarded an amount in pounds, the amount that has been awarded; or
2. If the pension credit member has been awarded a percentage of the member's cash equivalent, the percentage that has been awarded multiplied by the member's cash equivalent calculated in line with the methodology set out in the Active and deferred member CETVs and cash equivalents on divorce or Normal and ill health pensioner cash equivalents on divorce sections above.

F_4A^P is from Table 4A (Table 304 in the consolidated factor workbook). The factors are taken at the pension credit member's age last birthday at the relevant date.

The pension credit member will not receive a lump sum on retirement and will also not receive an attaching partner's pension.

The equivalent pension debit should be calculated in line with the 1999 Act.