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 […]

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

Budget

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 […]

Single Tier State Pension

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An article prepared by Clint Elliott, Chief Executive, National Association of Retired Police Officers The Government intend to introduce a new single tier state pension from 2016. The new legislation is going through Parliament almost without a single dissenting voice from any party in the house. It has been sold as a simpler system which will deliver […]

How the Annual Alowance is Calculated

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Annual Allowance – Explanatory Circular A circular has been produced by PNB Staff Side which shows how Annual Allowance is calculated.  It includes several worked examples which you might find useful. A link to the document, which has been published as a JBB Circular, can be found below. 170214 – JBB Circular 004 – Pensions’ […]

Increase in Pension Contribution Rates

pension tin

Increase in Pension Contribution Rates Following a period of consultation, the Policing Minister has decided to implement the third year of the planned increase in member contribution rates.  Staff Side’s response to the consultation was circulated recently via e bulletin. This increase, which will take effect from April 2014, will result in the contribution rates […]

Proposal to Increase Police Pension Contribution Rates

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Proposal to Increase Police Pension Contribution Rates – Staff Side Response The Policing Minister has recently consulted upon a proposal to increase member contribution rates w.e.f. April 2014. This will be the third annual increase in contribution rates following the Chancellor of the Exchequer’s announcement at the start of this current CSR period. The increase […]

Police Pensions Reform – FAQs

Wallet

HOME OFFICE CIRCULAR 14/2013 ON LONG TERM REFORM OF POLICE PENSIONS - FREQUENTLY ASKED QUESTIONS The Home Secretary announced the Government’s position on the long term reform of police pensions on 4th September 2012. We have previously published the following FAQs: about the Home Secretary’s announcement and pension reform on 14th September 2012; and about mis-selling […]

Police Pensions Reform – Home Office Circular 14/2013

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In September 2012, the Home Secretary announced her decision on a framework for a new police pension scheme from April 2015. Since then the Home Office have been working on the detailed design of the new scheme in consultation with the Police Negotiating Board, where the interests of police officers are represented by police staff […]

Seminar on Pension Reforms – 1 May 2013

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On 1st May, the Association hosted a pension seminar at The Chesford Grange Hotel, Warwickshire, for those members who will not be covered by ‘full protection’ when the reforms to the police pension schemes come into effect in April 2015. Approximately 170 of our current membership come with this group and around 100 of them […]

Increase in Pension Contributions Announced

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Following a consultation process, the Policing Minister has announced that police pension contributions will be increased with effect from April 2013. This announcement is not entirely unexpected. For our members, this will mean a further increase of 1.5% taking our total contributions to 14%. This represents an increase of 3% in contributions over a two […]

Consultation on Increase in Pension Contributions

Wallet

In 2011, the Home Secretary consulted on an increase in police officer pension contributions over a three year period.  In April 2012, the first of these increases was introduced which resulted in police officer contributions for members of the PPS (‘1987’ Scheme) rising from 11% to 12.5% for those officers who are classed as ‘Tier […]

Changes to Annual and Lifetime Allowances

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In his most recent Autumn Statement, the Chancellor announced further changes to Annual and Lifetime Allowances in relation to pensions.  These changes will come into effect from April 2014.  The Annual Allowance will be reduced from £50,000 to £40,000 per year and the Lifetime Allowance will be reduced from £1.5m to £1.25m. As a general […]

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MPs Debate Police Pensions

Keith Vaz

The Chairman of the Home Affairs Committee Keith Vaz chaired a Westminster debate about police pensions on Wednesday 28th November 2012. Derek Barnett President of the PSAEW welcomed the debate saying: “I am pleased that Mr Vaz is highlighting what is a particularly pressing concern for police officers at a time when significant number of […]

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The Annual Allowance Tax Charge – Don’t Get Caught Out!

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The Annual Allowance tax charge, which was revised in 2011, can give rise to members facing a tax bill if they undertake temporary or permanent promotion to the rank of ACC.  In some cases this tax charge can be substantial.  In essence a charge becomes payable if the size of a person’s pension ‘pot’ exceeds […]

Announcement on Police Pensions

Wallet

The Home Secretary has today made a Ministerial Statement on reform of the police pension schemes.  The links below will take you to the following documents: Home Secretary’s letter to the Independent Chair of PNB Government Actuarial Department’s (GAD) Verification Report Reform Design Framework The Government is committed to reforming pensions across the entire public […]

Reform of Police Pension Schemes

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Reform of Police Pension Schemes discussed at Police Negotiating Board Meetings held in Cardiff on 24 July 2012 Developments that have taken place in respect of the reform of police pension schemes have been circulated to members recently via the Association’s e-bulletin. The Home Secretary agreed that discussions to achieve an ‘agreed framework’ could continue […]