This note is addressed to the Lord Chancellor in their capacity as the Scheme Manager of the Judicial Pension Scheme 2022 (JPS 2022).

The purpose of the note is to provide factors to be used to calculate the Late Payment Supplement (LPS) for benefits accruing in the JPS 2022 and accompanying guidance to demonstrate how these factors should be applied to members' benefits.

An LPS is applied to the pension of deferred members who do not begin receiving their pension until after their NPA. Normal Pension Age is defined as a member's state pension age (or 65, if that is higher). For the purpose of this note, a member's expected NPA in the JPS 2022 is the same as their state pension age as defined by legislation at the point when benefits are paid.

LPS factors are different from 'Age Addition' factors, which are used to increase the benefits of members who continue in active service after their NPA. We have provided Age Addition factors and guidance for JPS 2022 members separately.

This guidance only relates to benefits in the JPS 2022 scheme.

A member may have deferred benefits in more than one judicial pension scheme. For the purposes of calculating a member's late retirement benefits, the administrators should calculate and apply the member's pension entitlement under each scheme separately using the relevant guidance notes.