The normal pension age (NPA) is 60.
The normal minimum pension age (NMPA) is 55.
You have the option to retire at any time after NMPA and to take immediate payment of your pension. If you decide to retire with immediate payment of your pension after NMPA and before NPA, your benefits will be actuarially reduced by reference to NPA.
You may remain an active member of the scheme as long as you wish (there is no maximum period of service). If you decide to continue in service beyond NPA there will be an actuarial uplift applied to your pension as it will be paid later than it would be in normal circumstances.
While you are an active member, the rate of revaluation applied at the end of each scheme year (31 March) to the earned pension accrued for that year is the movement in the Consumer Price Index (CPI) + 1.25%. The revalued amount forms the opening balance of your pension for the next scheme year.
For each scheme year that you are an active member, your earned pension is 1/55.3rd of the value of your pensionable earnings for that scheme year (uprated by CPI + 1.25%).
Pensions in payment to members are increased every year in line with CPI under the Pensions (Increase) Act 1971.
Benefits for others on the death of a member
If you should die whilst serving as an active member then a lump sum death grant is payable.
The payment is three times your final pay if your period of service was at least 12 months (otherwise it’s three times your annualised final pay).
A pension will be paid to your spouse or civil partner for the rest of their life.
A partner who is neither a spouse nor a civil partner may be entitled to payment of a pension for life, subject to having completed the required declaration. See Adult survivor benefits for more details.
Eligible children under the age of 23 may qualify for a pension.
Other features
You will be able to commute part of your pension (up to 25%) at a rate of 1:12; therefore for every £1 of pension given up you receive a lump sum of £12.
If you accrue rights in the scheme but leave the police force (or opt out of the scheme), without taking a pension or a refund of contributions, you will be entitled to a deferred pension payable from your State Pension age (SPA).
If you have accrued benefits in the 1987 scheme or the 2006 scheme, those benefits will remain in that scheme.
An active member may opt out of the 2015 scheme.