version of this document in a more accessible format, please email alternativeformats@homeoffice.gov.uk. They can provide you with a detailed breakdown about what you can expect if you decide to leave and how this will impact your finances when you reach pensionable age. However, because of the nature of investment funds, these come with risks. Transferring your Overseas Pension to the UK, Transferring a Pension to Another Provider, Another public service pension scheme such as a. If you have previous membership in the Police Pension Scheme 1987 (PPS 1987) or Police Pension Scheme 2006 (PPS 2006) and your break in service is less than 5 years, your final salary link will be retained. Note: If you transfer from a Club pension scheme e.g.
We’ve included the key information you need to know about pension transfers as well as where you can turn to for advice.
Taking Time Off Work for a Funeral: What Are My Rights? COVID-19 - We're here, we're ready to help. Following on from this, since 2015, it has not been possible to transfer a police pension into a defined contribution scheme. Police pension schemes Police pensions can be treated in one of three ways in the case of a police divorce. Inform your current pension scheme administrator about your decision to transfer your pension.
Police Officers who started their police service on or before 5 April 2006 will have joined the PPS, unless they opted not to do so. A full list of schemes that participate in the Club can be found online at the civil service pension scheme website or you can contact us. 6 0 obj
If your break in service is less than 5 years, your final salary link will be retained. We use cookies to ensure we give you the best experience on our websites. For example, if you were to transfer your pension to a private scheme and the pension provider’s investment strategy failed, you could lose your money. These documents cover non-club transfer values and pension sharing on divorce in the 1987, 2006 and 2015 police pension schemes. Yes, if you feel that you no longer wish to pay into a police pension, you have the right to opt out. You will need to provide information about the new qualifying scheme that you wish to transfer your funds to. This means your final salary in your current post will be used to calculate your pension in the PPS 1987 or PPS 2006. These include: Your scheme administrator can provide you with a pension transfer value, stated in writing by post or via email. 7 0 obj
They will offer any advice specific to you and your needs. Halloween DIYs To Help You Stay Home and Stay Safe This Year, We’re Relieving Reluctance About Seeking Workplace Accident Compensation Claims, World Mental Health Day and the Workplace, Howells Legal Limited (Vat Number 667 2359 07) is Authorised and Regulated by the Solicitors Regulation Authority (607741), Link to the ODR platform - please follow the following link for further information (, Our contact email address in case of a complaint under the ODR regulation – Andrea Coombes, New Build Property Q&A with Richard Thornton, Custody & Child Access & Children Disputes, What are my Rights/Contract Review Services, ← Helping the Homeless with Free Legal Advice, The 10 Minute Guide to... Police Pensions and Divorce, Solicitors for the Elderly: A Guide to Lasting Power of Attorney, The 10 Minute Guide to... Divorcing an Absent Spouse, Statement of Compliance Criminal Finances Act 2017. Website: https://www.onlinemoneyadvisor.co.uk. Transfers are subject to time restrictions. endstream
These documents are provided by the Government Actuary’s Department. Retirement declaration Complete this form if you are retiring and claiming your police pension. It can be difficult to calculate your transfer value, especially if you’ve never had to do it before. 9 0 obj
You can also find more general information about pension transfers.
Following on from this, since 2015, it has not been possible to transfer a police pension into a defined contribution scheme.
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