Purchase of Added Pension (AP) for active members of the 2015 Scheme

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Purchase of Added Pension (AP) for active members of the 2015 Scheme. An active member of the 2015 scheme may elect to purchase Added Pension (AP) in accordance with Schedule 3 of the 2015 regulations. This purchase may be made by a lump sum payment or by periodical payments. The Government Actuary’s department has produced […]

Pension Sharing on Divorce

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Transfer Values – Pension Sharing on Divorce The Government’s Actuarial Department has recently updated it guidance a copy of which can be found below. 1987_E&W Transfer Values pens sharing guidance (amended)                

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Tapered Annual Allowance – HM Treasury Guidance

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Tapered Annual Allowance – HM Treasury Guidance. HM Treasury has produced a factsheet in relation to tapered Annual Allowance.  It can be accessed below. You will not be affected by the taper if you have a net income of less than £110,000 p.a.  ‘Net income’ is the normal calculation of your income for tax purposes, i.e. […]

Change to Lifetime Allowance (LTA)

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Change to LTA – Submission to HMRC on potential protection arrangements You will be aware that the Chancellor announced that Lifetime Allowance (LTA) on the value of pension savings would be reduced from the current £1.25m to £1.0m w.e.f. 6th April 2016.  He also announced that legislation would be passed in 2018 to uplift this […]

Change to Lifetime Allowance

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Change to Lifetime Allowance Police Mutual has kindly produced a factsheet to explain the implications of the change to LTA announced by the Chancellor in his most recent budget.  You can access the factsheet below.  Further information around protection arrangements will be circulated once they are known.  Some worked examples are currently being developed for […]

Changes to Lifetime Allowance

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Changes to Lifetime Allowance Factsheet provided by the Home Office Police Pensions’ Unit Further to the special e bulletin which was circulated on Friday 20th March 2015 in relation to the Chancellor’s announcement that LTA would be reduced from £1.25m to £1.0m with effect from 6th April 2016, the Home Office has produced a factsheet […]

Pension Reform

Pensions file

This article should be read by all those members who will not benefit from ‘full protection’ and will, at some time transfer across to the new Career Average Revalued Earnings (CARE) pension scheme, otherwise known as the 2015 scheme.  The other pension schemes are the Police Pension Scheme (PPS or 1987 Scheme) and the New Police […]

Police Pension Scheme 2015 – Members’ Guide

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Police Pension Scheme 2015 Please find below a link to the HO’s Police Pension Scheme 2015 Members’ Guide and also a copy of the PFEW FAQs on the new scheme: https://www.gov.uk/government/publications/the-police-pensions-scheme-2015-members-guide Police Pension Scheme 2015 – FAQs V.2 – 27 March 2015 FINAL (2)                

Temp Promotion Arrangements for Superintending Ranks

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Home Office Circular 019/2014 – Temporary Promotion Arrangements for Superintending Ranks to ACC/Commander Rank   Earlier in the year, agreement was reached within the Superintendents’ Committee of the PNB which enabled Superintendents and Chief Superintendent who were required to perform temporary duties as an ACC/Commander to choose whether to take a pensionable higher salary or […]

The 2015 Pension Scheme

Pensions file

Important information for members who will transfer to the 2015 pension scheme (Home Office Circular 17/2014   If you:   are due to move into the 2015 scheme and have service in another pension scheme you may be able to transfer that service into the police scheme. a member of the 2006 scheme and would […]

New Pay Scales for Superintending Ranks

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  New Pay Scales for Superintending Ranks New pay scales for Superintending ranks came into effect on 1st September 2014 following the application of a 1% uplift to all pay points. The relevant PNB Circular can be found via the link below. PNB_2014-15 1 Sept 2014                   […]

The Role of the Police Remuneration Review Body

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The arrangements for setting police pay and conditions are changing. From September 2014, a new, independent Pay Review Body will be responsible for making recommendations to the Home Secretary on all police ranks up to and including Chief Superintendent. This puts the police pay review mechanism on a similar footing to other major public sector […]

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Pension Reform – Freedom and Choice in Pensions

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You may be aware that, in his most recent budget, the Chancellor announced changes to way that pensions can be taken to allow individuals greater freedom of choice. Following his announcement, the Treasury launched a consultation exercise on several proposals to alter existing provisions in relation to pensions.  One of these was to raise the […]

PNB Circular – Temporary promotion to ACC/Commander

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A new PNB Circular has been published (see document below) which enables Superintendents/Chief Superintendents who are required to perform Temporary ACC/Commander duties to elect whether to take a pensionable temporary salary or a non-pensionable, but taxable, honorarium as an alternative. Since the changes to Annual Allowance, which resulted in the threshold being reduced from £250,000 […]

Briefing to the new Pay Review Body (PRRB)

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  Earlier this month Irene Curtis, Joanna Young and Tim Jackson met with members of the new Pay Review Body, which is to replace the Police Negotiating Board later this year.  The purpose of the meeting was to brief members on the what it is that Superintendents and Chief Superintendents do, and to provide them […]

Superintending Pay Scales

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Revised pay scales for superintendent ranks was introduced on 1 April 2014.  There are no rates for 2011 and 2012 due to the Government two-year public sector pay freeze, which included the police service. Superintendents (Pre 1 April 2014 Pay Scale) Pay point With effect from 1st September 2010 With effect from 1st September 2013 […]

New Pay Scales for Superintending Ranks

pay scales

New Pay Scales for Superintending Ranks New pay scales for Superintending ranks came in on 1st April 2014. The HO and PNB Circulars can be found via the links below. The Circulars, which were forwarded to force pay roll departments towards the end of March and should have been implemented in time for 1st April, […]

Annual Allowance Calculator

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Annual Allowance Calculator An excel spreadsheet has been developed by one of the financial advisors who works with us.  This calculator will enable members to obtain an indication as to whether they are likely to exceed the AA threshold during 2014/15.  It can be accessed via the link below. It is important that you note […]

Changes to Lifetime Allowance

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Changes to Lifetime Allowance – are you confused about ‘protection’? The Association understands that some forces are circulating information to members about the change to Lifetime Allowance (LTA) which will come into effect from 5th April 2014, and which will result in the allowance being reduced from £1.5m to £1.25m. It would seem that in […]

Budget Summary 2014 – Main Provisions

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Budget Summary 2014   Two of the firms of financial advisors who support the Association have kindly provided us with a summary of the main provisions of last week’s budget.  A document provided by Phil Pearson (St James’s Place) can be accessed via this link and a document provided by Rob Blount (Police Mutual) is […]

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