Pensions

House of Lords written question – answered at on 23 November 2010.

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Photo of Lord Laird Lord Laird UUP

To ask Her Majesty's Government, further to the Written Answer by Lord Sassoon on 8 November (WA 31-2), what is the employee superannuation contribution rate for judges; why it is necessary for the equivalent employer contribution rate to be 32.2 per cent; and what is the latest annual cost of judicial pension payments and contributions.

Photo of Lord McNally Lord McNally Deputy Leader of the House of Lords, The Minister of State, Ministry of Justice, Liberal Democrat Leader in the House of Lords

Members of the Judicial Pension Scheme make no contribution towards their personal pension benefits. However, they do pay a contribution towards the contingent pension benefits for their spouse or civil partner and any dependant children. The contribution rate for members of the 1981 scheme is 2.4 per cent (for those in the 15-year scheme) or 1.8 per cent (for those in the 20-year scheme) of gross salary. The contribution rate for members of the 1993 scheme is 1.8 per cent of gross salary up to the pension cap.

The Judicial Pension Scheme is an unfunded scheme to which the employer makes contributions known as accruing superannuation liability charges (ASLCs). ASLCs are assessed by the Government Actuary to be broadly consistent with the level of contributions that might have applied to meet the scheme's current and on-going future liability, had the scheme been funded on an approved or registered basis. The Government Actuary reviews the contribution rates following a full scheme valuation at least every four years.

The annual total of judicial pension payments for 2009-10 was £76.458 million. The total of employer's contributions for 2009-10 was £83.941 million and £4.315 million for member's contributions.

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