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The Difference Between The Best And Worst Pension Incomes Can Be Very Surprising

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Police Officers will have to wait for update on pension changes

The Police Federation has revealed that there will be no announcements from the Home Secretary Theresa May on changes to police pensions until parliament returns from recess.

Although a police pensions “discussion” deadline of July 24 was given by the Home Secretary, at the end of last month it was announced that “further dialogue” would be permitted.

This means that police officers will have to wait until at least September for further details about the proposed “career average” pension scheme, which is set to come into effect in 2015.

The scheme would see a normal pension age of 60, average member contributions of 13.7%, an accrual rate of 1/57ths and a revaluation based on national average earnings.

Police officers aged 45 or over on April 1 this year, or aged 40 or over and less than 10 years from full pension on the same date, will not see any alterations to their pension.

It was confirmed that the “deferred pension age” will be in line with state pension age, which is set to increase to 67.

Last month Ian Rennie, the Police Federation General Secretary, said there was “considerable concern” among officers about future pension provision.
In a letter to members, he said: “The precise position in relation to future pension arrangements is not yet known.

“The position of each member will depend on the precise arrangements which are introduced. Until these are known it is not possible to say how, and to what extent, individual officers will be affected.

“The dialogue between the Home Office and Staff Side is continuing and the Federation will provide more information as and when this is available.”

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