Legal background Judicial Pensions
Provision for the reformed judicial pension scheme is made in secondary legislation under the existing power in section 1 of the PSPA 2013. The use of this existing power permits the reformed scheme to be delivered in accordance with the principles of the 2015 pension reforms. The PSPA 2013 provides a broad power for scheme regulations to establish new career average revalued earnings (CARE) schemes according to a common framework of requirements. These include an increased governance regime, the requirement for Normal Pension Age to be linked to State Pension Age (with some exceptions) and a cost control mechanism to keep the ongoing costs of the schemes within defined margins. The reformed scheme is a tax-unregistered scheme, and this is achieved by not registering the pension scheme under Part 4 of the Finance Act 2004.