Quick links to information on the national Police Federationwebsite: Follow @WestMercPolFed for latest updates, Join us on Facebook for photos, news & views, Contact us in the office or a rep in your area, Find all the latest member discounts and services, A single place to find dedicated police charities within the UK, Offers available for members to stay at Police Federation HQ in Leatherhead, 40 minutes via train to London, Copyright 2019 Police Federation All rights reserved, the present value of their benefits (as if they had left service on 31 March 2021), the benefits on death (as if they had died in service on 31 March 2021), and a projection to Normal Pension Age (this age will depend on which scheme the officer will be a member of at retirement). News stories, speeches, letters and notices, Reports, analysis and official statistics, Data, Freedom of Information releases and corporate reports. If you require financial advice, you should contact an independent financial adviser. New consultee list for police pension scheme regulations. This calculator is for guidance purposes and is an estimate only. If members wish to compare those results with the indicative benefits they might expect to receive at an alternative date/age then they need to complete the details in the calculator again using that alternative date as the retirement date. JavaScript is required for the best user experience. If you require help with filling in the "About You section, please refer to your most recent annual benefit statement. . If you take 26,000 per year, this will last until age 90. Members should be aware the calculator is for guidance only and the information provided is an estimate. Officers can now view their 2021 annual benefit statement via XPSs Member Self Service (MSS). It will assumed that any periods of employment not entered are full time. The SPPA is pleased to advise that a retirement calculator for the McCloud/Sargeant and 2015 Remedy is available for use on our website. Three sets of results are shown on the basis that salary increases and inflation will be CPI, CPI+1% and CPI+2% respectively. November 2021 Immediate Detriment Guidance withdrawn. We use some essential cookies to make this website work. A remedy calculator (My Own Pension - McCloud) is also now available for members or former members of the Police Pension Scheme 1987and 2006 to use. If you joined the police service on or after 1 April 2012 the Remedy will not apply to you. This online calculatorcan provide you with an illustration of the impact on the legacy and reformed scheme benefits toyour pension entitlement. It helps you understand the level of funding that supports your KGPS pension. Dont include personal or financial information like your National Insurance number or credit card details. Also, we recommend that members take the time to read the guidance notes provided prior to attempting to fill in the calculator as they are designed to assist in the process and to help members understand the results. XPS accepts no liability for any calculations produced or any actions taken by members with regards to these estimates. You can also watch a useful video demonstration of how to use the modeller. Unfortunately, due to the complexity of the calculations, the NHS calculator does not yet contain functionality for Mental Health Officers or Practitioner members of the NHS pension scheme. We also use cookies set by other sites to help us deliver content from their services. If you get the increase, your April pension advice will show your new pension amounts for April and May. XPS Pensions Group has an overall rating of 3.8 out of 5, based on over 112 reviews left anonymously by employees. a pension payable for life upon retirement once you've completed two years' qualifying service the option to take part of your pension as a tax-free lump sum when you retire tax relief on any contributions you pay into the scheme a range of benefits for your dependants if you die amount exceeds HMRCs limit for drawing a tax free commencement lump sum, Are retiring due to ill health or redundancy, Have had a non pensionable break in service. On 22 March 2022 having obtained further legal advice on the matter the NPCC wrote to Chief Constables advising them to cease use of the Immediate Detriment guidance. June 2021 - Guidance for members about to retire. If you have any issues with the Police Pension Calculator, please email us. The normal pension age for the 2015 scheme is 60, although you can retire from age 55 with actuarially-reduced benefits. The Home Office has now issued an update to theexisting informal and non-statutory guidanceon immediate detriment cases. If they havent already, officers will have to individually register to use MSS in order to view their statement. The calculator assumes that CPI movement will be +2% on an ongoing basis. 1987 Police Pension Scheme Adult survivors under the 1987 Police Pension Scheme include widows, widowers and civil partners but not cohabitees who were not married or in a civil partnership. Those are the questions our pension calculator will help you answer. In order to assist members in doing this there are More Info boxes provided alongside many of the questions. It does not take account of individual circumstances, particularly if you: Find out about all other pension schemes here. Request an accessible format. Local Government. Following extensive lobbying by us, the Home Office (HO) commissioned the Government Actuarys Department (GAD) to produce a pension calculator for use by police officers, in order to provide them with an illustration of the retirement benefits they might expect to receive from the police pension schemes, when they choose to retire. It is not intended to provide you with . Some specific points which should be reiterated are as follows: The calculator allows a member to select the date (and therefore the age) at which they feel that they might like to retire and the calculator produces indicative results based on that date. 01642 030693 pensionsunit@xpsgroup.com. google_ad_slot = "2985645571"; The calculator is for guidance purposes and the outputs provided are illustrative only. Open the 2015 Remedy Calculator (opens in a new tab). Refer to your pension scheme handbook for full details. 01642 030692 penmail@xpsgroup.com. If you joined a public sector pension scheme on or before 31 March 2012 and you were still a member on or after 1 April 2015, and had continuous service you will be eligible for the 2015 Remedy. The hub will provide North Wales Police officers, staff and pensioners with a resilient in-house service delivering one-to-ones, expertise, advice and guidance. GAD have had to make assumptions about these, in order to predict the value of future benefits. The contact details of your Branch Board Secretary can be found on the Contact Us page. To help us improve GOV.UK, wed like to know more about your visit today. This statement is based on the formal valuation at 31 March 2020 and shows the updated position at 31 March 2021. And because we don't work in isolation, but collaborate with other leading organisations, you don't need to go anywhere else for advice. Changes to the schemes are going to take place in 2022 and 2023 to remove age discrimination found by the courts. The prospective remedy will see all service personnel move into . As you will know, to implement remedy in full, both primary and secondary legislation are required, as well as administration work (at local Force level) to implement the changes. Without it you will experience limited functionality. 1. The Home Office has not published updated guidance or information on this matter and as such, PFEW maintains the position as stated in 3.12 of the remedy FAQ document. You will be aware that the transitional arrangements for transfer from the 1987 legacy police pension scheme to the 2015 CARE police pension scheme were found to be discriminatory. West Mercia Police Pensions are administered by XPS Administration. These are all subject to periodic review and adjustment as and when required. Action is being undertaken to look to include Police Pension Scheme 2006 members and further communications will be issued to advise once this is available. XPS Administration Contact Details Pension Calculator The 2018 Home Office Pension Calculator is available at the link below. It can be accessed via the below link : - http://www.myownpension.co.uk/ You'll need your latest Annual Benefit Statement (ABS). Pension amount you would like to offset against your commutation, This calculation assumes that a 55% tax charge is applied where the commuted
Below are the most recent updates pertaining to the Police Pensions. Separately, pensions in accrual in the career average revalued earnings public service pension schemes introduced in 2014 and 2015 are revalued annually in relation to either prices or earnings, depending on scheme rules. Follow us @PFEW_HQ for our latest updates, Read the latest edition of POLICE magazine, The Hub may not be available for some users, Find all the latest member discounts and services, A single place to find dedicated police charities within the UK, Offers available to stay at Police Federation HQ in Leatherhead For more information or to do calculations involving each of them, please visit the 401 (k) Calculator, IRA Calculator, or Roth IRA Calculator. You must have JavaScript enabled to use this form. It does not take account of individual circumstances, particularly if you: Are retiring due to ill health or redundancy; Have a deferred pension; Work part-time This section provides a link to the Police Pensions Advisory Board webpage, which includes information related to the Police Pension Scheme Advisory Board. Police Pension Scheme 2006 . membership and . It is not intended to provide financial advice. Following further discussions between HMT and HMRC, on 29 November 2021 the Home Office withdrew its informal and non-statutory Immediate Detriment Guidance, stating that in the light of uncertainty around the legal position and the risk of generating unintended tax consequences for members such cases should not be processed prior to the relevant legislation being put in place. Retired members will be offered their choice once the legislation and processes are in place. This police pension calculator is for illustration purposes only. If you joined the police pension scheme on or before 31 March 2012 and you were still a member on or after 1 April 2015, then as long as you had continuous service you will be asked to make a choice about your pension scheme benefits once your pension scheme is set up to deliver the 2015 Remedy. Under the CARE 2015 Scheme, benefits accrue on a yearly basis based on the pay received by the member during that year.