After section 40A insert:
40B—Interaction with judicial remuneration or pension entitlements
(1) If a person would,
but for this subsection, be entitled to—
(a) the
payment of a pension under this Act; and
(b) the
payment of—
(i)
salary as a Judge for judicial service; or
(ii)
a judicial-related pension,
the right to the payment of a pension under this Act is suspended.
(2) Subject to this
section, the Board will, on the application of a person whose pension is
suspended under subsection (1), commute the entitlement to the pension to
a lump sum payment.
(3) An application for
commutation must be made—
(a) in
the case of a suspension under subparagraph (i) of
subsection (1)(b)—within 6 months after the pension is
suspended due to the circumstances applying under that subparagraph;
(b) in
the case of a suspension under subparagraph (ii) of
subsection (1)(b)—within 3 months after the pension is
suspended due to the circumstances applying under that subparagraph.
(4) If—
(a) an
application is not made under subsection (3)(a); and
(b) the
person ceases to receive salary as a Judge for judicial service without an
entitlement to a judicial-related pension,
the suspension will cease.
(5) If an application
is not made under subsection (3)(b) within the period that applies under
that provision, it will be taken that the person has made the application in
any event.
(6) In making the
commutation, commutation factors promulgated by regulation will be applied.
(7) In this
section—
"Judge" has the same meaning as in the Judges' Pensions Act 1971 ;
"judicial-related pension" means a pension under the Judges' Pensions
Act 1971 ;
"judicial service" has the same meaning as in the Judges' Pensions
Act 1971 .