Police Pension Schemes
2015 Scheme
POLICE PENSION SCHEME (CARE) 2015 – Members Guide PPS 2015
(Please also see Forms and Documents Section)
- The 2015 scheme is a career average scheme from 1 April 2015. PPS 1987 and PPS 2006 are final salary schemes. PPS 2015 pensions will be worked out each scheme year, over the course of your career and revalued to ensure it keeps up with the cost of living
- Every year in the new scheme you will get a pension that’s equal to a 55.3th of your pay added to your pension account
- The Normal Retirement Age for membership built up from 1 April 2015 is age 60
- Your deferred pension age is equal to your State Pension Age, with a minimum of age 65
- Members re-joining after a deferment of less than 5 years can link new service with previous service as if they had always been an active member
- Guaranteed defined benefit scheme
- Tax free contributions
- Option to take tax free cash lump sum
- Index-linked pensions
- Built in Ill-health benefits / life cover
- Pension for dependants
- Employer pays contributions
- Possibility to purchase added pension (see Home Office calculator on link)
All Police Officers should now have received a statement confirming the current value of pension benefits and where they fall under the protections with regards to the PPS 2015 scheme. We have now arranged the opportunity for all affected officers to attend a 2015 Police Pension Scheme Presentation giving a general overview of the 2015 scheme. An email has been issued by Police HQ with the various venues/dates and booking links.
Transition members of 1987 scheme to 2015 scheme
Wednesday, October 14th, 2015
We are now in a position to be able to issue projections to Police Officers that have either transferred into the 2015 scheme from the 1987 scheme, or will do at a future date. We are planning on issuing these over the next week.
November 2015
We are now in a position to be able to issue projections to Police Officers that have either transferred into the 2015 scheme from the 2006 scheme, or will do at a future date. We are planning on issuing these over the next week.
LATEST NEWS:
Added_Pension_Calculator_-_2015
Important information for members due to transfer to New 2015 CARE Scheme
2015-Police-Scheme-Members-Presentation
1987 Police transitional member retirement decision tree