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Judicial Pension Scheme 2004

The Judicial Pension Scheme 2004 provides pension benefits for certain members of the Isle of Man Judiciary, the Attorney General and the Solicitor General.
It is closed to new members.


What is the Judicial Scheme? 

The Judicial Scheme is a defined benefit pension scheme. Both you and the Isle of Man Government contribute money towards the retirement benefits you receive. When you retire you will receive a pension and a cash lump sum. There are also other benefits like ill health retirement and the option to take benefits early or increase your pension benefits by purchasing extra benefits. 

Your retirement benefits 

When you retire you will receive a pension (e.g. a regular retirement income) and lump sum. Unlike a bank account, your total savings aren't calculated based on how much money you contribute. Provided you retire having completed at least 5 years' service and are aged 65 a pension is immediately payable.  The pension is payable at the following rates: 

  • If the period of your pensionable service, in the aggregate, amounts to 20 years or more, one half of pensionable pay 
  • If the period of service, in the aggregate, amounts to less than 20 years, 1/40th of pensionable pay multiplied by the aggregate length of service. 

In addition to the pension you will also be entitled to: 

  • a lump sum of 2.25 x pension; and 
  • upon your death pension equal to ½ of your pension will be paid to your surviving adult dependent 

How much will it cost me? 

As a member of the Judicial Pension Scheme, you will pay a percentage of your Pensionable Pay and the Isle of Man Government will also make a contribution of 15%. The contributions you and your employer make go towards the cost of your benefits and the benefits for your loved ones if you die.

The Judicial Scheme had a contribution rate of 3% of pensionable pay. From the 1 April 2020, this rate will increase to 11%. Contributions will rise every 12 months until the upper limit of 11% is reached: 

  • from 1 April  2020, a 1.6% increase to 4.6%
  • from 1 April  2021, a further 1.6% increase to 6.2% 
  • from 1 April  2022, a further 1.6% increase to 7.8% 
  • from 1 April  2023, a further 1.6% increase to 9.4% 
  • from 1 April  2024, a further 1.6% increase to 11%

Top up your pension savings 

If you think you might need a bigger pension, you can top up your retirement savings with additional voluntary contributions either via the Judicial Pension Scheme 2004 or by using the Group Personal Pension Scheme from Aviva. 

To find out more about purchasing additional benefits in the Judicial Scheme, please contact the PSPA for more information and to find out about the Aviva Scheme please refer to the Group Personal Pension Scheme announcement

Protection for your family 

The Judicial Scheme will provide you and your family with valuable protection, through: 

  • Ill health retirement - If you are too ill to work, you may be able to retire early and take your pension benefits. 
  • Death in service benefits - If you die in service before you retire, the Judicial Scheme will pay a cash lump sum to your beneficiary of two times your Pensionable Pay. You can make a nomination for your beneficiary by completing the Lump Sum Nomination Form. 
  • Survivor pensions - The Judicial Scheme will also pay a pension for your partner (spouse, civil or nominated) and dependant children on your death. 
  • Death after retirement - A lump sum will be payable on death after retirement within the first five years of retirement. 
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