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The calculator is for guidance purposes and the outputs provided are illustrative only. Work out your State Pension age and State Pension income amount. Without it you will experience limited functionality. We apologise for the inconvenience this may cause members affected and we will provide an update once this functionality becomes available. To estimate the value of your Scottish Police pension scheme benefits on any retirement date selected by you, just download our handy calculator. 74% of employees would recommend working at XPS Pensions Group to a friend and 78% have a positive outlook for the business. There are some variables that officers themselves can choose to vary when using the calculator, for example: The date when they retire Whether they work part-time at any point. In just a couple of minutes, you'll get: A forecast of the likely pension income you'll get when you retire. 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. Our letter to the Home Secretary invites comment and justification on a number of potential issues that we have identified in our initial response to the Governments proposed Remedy to the discrimination. One set of results reflects the actual projected figures, and the other reflects what those figures are worth in todays terms, making allowances for future inflation. Welcome to the Firefighters' Pension Schemes Member website. You have rejected additional cookies. Use our Chat Zone to email any questions or let us know about any topics where you would like to see more information. JavaScript is required for the best user experience. your voluntary retirement age (for further information see Chapter 4 of the The Police Pension Scheme 1987 member guide) The normal pension age for the 2006 scheme is 55. XPS accepts no liability for any calculations produced or any actions taken by members with regards to these estimates. Enter all periods of part time working and the hours per week worked (out of 40). Police pension scheme 2006 guidance on exchanging a lump sum published. News stories, speeches, letters and notices, Reports, analysis and official statistics, Data, Freedom of Information releases and corporate reports. Let us forecast your likely retirement income. The cash equivalent transfer value is the amount your current pension scheme will offer you if you want to transfer out of your defined benefit pension and into a defined contribution scheme. Our monthly newsletter is packed full of topical news stories, handy hints and tips for managing your money, information about our products and services and exclusive prize draws! To request an activation key complete the form below and click the Sign Up button Your activation link will be sent to the email address held on our records. Police Remedy Member Guide(opens in a new tab), Remedy Common Myths(opens in a new tab), Scottish Government |Riaghaltas na h-alba | gov-scot. Gross Annual Income (to the nearest pound). Document is also available opposite. McCloud Police Officer Pension Remedy- Calculator. The site is based on current scheme rules that apply. This means that members do not have to choose which scheme they receive benefits from during the Remedy period until they reach retirement age and enables them to make their decision based on fact rather than an estimate. 1. Received a letter with your Activation Key Sign Up Without Letter Log In Already registered? Changes to the schemes are going to take place in 2022 and 2023 to remove age discrimination found by the courts. It is not intended to provide financial advice. Please note that the illustration is not a guarantee, nor is the calculator intended to provide you with financial advice. Well send you a link to a feedback form. Well send you a link to a feedback form. Calum Steele's letter. 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). Retirement modeller. Check the ScamSmart website or call 0800 111 6768 to see if the firm you are dealing with is . membership and . Please make sure you are aware of the rules of your pension scheme and always contact your force Pension departmentfor a personal illustration before making any decisions around your retirement and pension. Re-engagement after retirement 29 10.1 Resumption of police service before usual pension age 29 10.2 Resumption of police service after receipt of a pension 29 10.3 The 30+ Retention Scheme 29 10.4 Abatement of pension 29 10.5 Inter-service abatement 30 11. The calculator can provide you with an illustration of your pension entitlement and shows the impact of the 2015 remedy on your legacy and reformed scheme benefits. The calculator does not cover: the effect of pensions tax charges on your benefits; information about any optional benefits such as additional pension and additional voluntary contributions; survivor benefits payable in the event of your death; the effect of pension sharing on divorce. Without it you will experience limited functionality. This online calculatorcan provide you with an illustration of the impact on the legacy and reformed scheme benefits toyour pension entitlement. Please ensure that you have selected the correct pension type - This is an ordinary pension after not less than 30 years' pensionable service or on compulsory retirement on account of age. Rank for pension is: The highest paid rank for at least two years in the last 5 for ORs; or. PK !l9.. mimetypeapplication/vnd.oasis.opendocument.spreadsheetPK !B ; styles.xml] OUA' ~c YJTj k . Police Pension and index linking - NARPO Join us Become a NARPO member today. You have accepted additional cookies. If you haven't received your latest annual benefit statement or you would like to request an estimate of your benefits, please check your eligibilitybefore you apply. When you use the calculator you'll get: The Current Version Of The Pps 1987 Police Retirement Calculator Is Available To Current Or Former Members Of The Pps 1987 Scheme Only. Request an accessible format. Guidance on the public service pension schemes consultation to remove the discrimination identified in the McCloud/Sargeant litigation: The police pension schemes are covered by governance arrangements that were introduced under the 2013 Public Service Pensions Act. Any pension benefits due will be backdated to their date of retirement. The percentage for an officer is 3% of the 34 yr rate for their rank for pension. If you use assistive technology (such as a screen reader) and need a 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 A collection of information related to the police pension schemes. In the U.S., today very rarely is the term "DC plan" used to refer to pension plans. Choose your retirement age. Assuming the Public Services Pensions and Judicial Offices Bill is passed through parliament to remedy that . Consequently, by its very nature, the calculator is complex and in order to obtain the appropriate results members need to accurately input a certain amount of information. google_ad_width = 160; Welcome to the Member Self-Service website View your pensions data online, update your details and use our online planning tools to see how much you could be saving for retirement. Your total pension value is likely to exceed 1million and may therefore breach your Lifetime Allowance. Inflation Rate - Enter your preidcted inflation outlook . Results are shown in two ways. We use some essential cookies to make this website work. To access the correct calculator, click on the button that relates to your pension scheme below: Scottish Government |Riaghaltas na h-alba | gov-scot. February 2021 Government consultation response. Predicting the likely benefits at retirement under the two final salary schemes (the PPS 1987 and the NPPS 2006) is relatively simple. Members are also advised to have available the latest benefit statement that they have been issued with by their forces scheme administrator, as they should be able to extract much of the information it is necessary to input into the calculator, from that document. Please do not make any financial decsions until you have an official projection from your own pay department. Under the CARE 2015 Scheme, benefits accrue on a yearly basis based on the pay received by the member during that year. If you would like to talk through your options, why not make an appointment to see an independent financial adviser? 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. It only applies to members of a police force in England and Wales. 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. The updated guidance aims to provide ways forward where possible. Use this Commutation Slider Tool to find the perfect balance between income and lump sum. It will assumed that any periods of employment not entered are full time. June 2021 - Guidance for members about to retire. Pension amount you would like to offset against your commutation, This calculation assumes that a 55% tax charge is applied where the commuted GAD have had to make assumptions about these, in order to predict the value of future benefits. There are many possible variables so for a definitive accuracy you must check your tax code with your tax office and always contact your force Pension department for a personal illustration before making any decisions around your retirement and pension. Please read the guidance notes tab for further details and limitations. The UK government expects that the processes needed to support members to make their choice should be in place by 1 October 2023. If they havent already, officers will have to individually register to use MSS in order to view their statement. Members retiring before October 2023 will retire with the benefits they have accrued in the 1987 and 2015 scheme currently held. XPS Pension Administration West Mercia Police Pensions are administered by XPS Administration. They will be responsible for all police pension schemes and local government pension schemes and act as the contact for our pension administrators XPS (Police) and Gwynedd County Council (Staff). The calculator allows police officers to see an illustration of their projected pension benefits. before any reductions. The government introduced the Public Services Pensions and Judicial Offices Bill (PSP&JOB) to legislate how they will remove the discrimination identified by the courts in the way that the 2015 pension reforms were introduced. It will take only 2 minutes to fill in. Asking members to make this choice when they retire means they will know what theyre entitled to under each option, making it easier to make the right decision. Enter the date that you transferred to the PPS 2015. Open the 2015 Remedy Calculator (opens in a new tab). Scottish Government |Riaghaltas na h-alba | gov-scot. Police Advisory Board and information on other governance arrangements: Benefits of the police pension scheme 2015 added to collection page. This Commutation Slider Tool is designed for officers in the 1987 scheme with full protection and not subject to the Police Pension reforms. The calculator can provide you with an illustration of your pension entitlement and shows the impact of the 2015 remedy on your legacy and reformed scheme benefits . March 2022 - Public Service Pensions and Judicial Offices Act 2022 (PSP&JO Bill). 10. However, no allowance is made for any increases in salary due to promotion or incremental progression. On 20 April 2021 we wrote to the Home Secretary to seek evidence and clarification that the implementation of the public sector pensions Remedy would not cause further discrimination to any of our members. For an officer who is currently part-time the calculator assumes that the officer will continue to work part-time at the current proportion of hours worked until retirement - which may not prove to be the case. Check benefits and financial support you can get, Find out about the Energy Bills Support Scheme, Governance for the police pension schemes, All schemes: pension administrator contacts, consultee list for the police pension scheme regulations, Public Service Pensions and Judicial Offices Bill, Public service pension schemes consultation response guidance, Police Advisory Board for England and Wales, Benefits of the police pension scheme 2015, The police pensions scheme 2015 members guide, Police pensions: early payment reduction 2015 scheme, The police pension scheme 2015: administrators guide, 2015 pension reform: verification of scheme's design cost, Police pension scheme 2006: members guide, Police pension scheme 2006: exchanging a lump sum, Police Pensions Regulations 2006: notes for administrators, Police pension scheme 2006: guidance on pensions for unmarried partners, Police pension scheme 1987: members guide, Police pension scheme 1987: commutation on retirement, Police pensions: 2015 scheme tax charge debits factors and guidance, Police pension administrator contacts: England and Wales, Police pension schemes: processing immediate detriment cases. By continuing to use the website you are consenting to our use of cookies. Contributions payable to the PPS 06 are between 1% and 1.5% lower and those payable to the PPS 87 are between 2.2% and 3.25% higher. Guidance notes to assist you when using the pensions calculator: The new calculator deals with the benefits officers may receive from all three of the current police pension schemes, these being the: Police Pension Scheme 1987 (PPS 1987) New Police Pension Scheme 2006 (NPPS 2006) Police Pension Scheme 2015 (CARE 2015 Scheme). We understand that this may be disappointing to those of you who are eager to forecast your likely benefits, but the launch of the calculator will be a significant milestone in the wider implementation plan. PFEW is aware the Fire Brigades Union (FBU) published a circular on 25 March regarding members who opted out and are intending to seek re-admission into the pension scheme (for the Remedy Period) through the contingent decisions route. The PSA had argued that the government had not lawfully consulted on the changes to police pensions due to come into force later this year, which . MSS Support. And because we don't work in isolation, but collaborate with other leading organisations, you don't need to go anywhere else for advice. This includes members who left but returned within 5 years to the same or another public service pension scheme. The calculator makes an assumption about the continuing rate of CPI movement and also uses the currently applicable early and late retirement factors in the CARE 2015 Scheme where appropriate, and the current commutation factors for the PPS 1987. Please enter your search criteria below and select Search. If you have not received an email from mss@xpsgroup.com within five minutes, please check your junk/spam folder. The legislation and processes required to offer members the choice between legacy and CARE scheme benefits will be in place from 1 October 2023. Attached new police pensions calculator. If you require financial advice, you should contact an independent financial adviser. This police pension calculator is for illustration purposes only. This online calculator can provide you with an illustration of the impact on the legacy and reformed scheme benefits to your pension entitlement. Learn how long your pension could last and see how contributions might impact your savings using our pension calculator. New consultee list for police pension scheme regulations. 01642 030692 penmail@xpsgroup.com. However, due to the way in which career average revalued earnings schemes work, it is more difficult to predict likely benefits under the CARE 2015 Scheme. The MoD has announced that the launch of the revised Armed Forces Pension calculator will be delayed. You'll need your latest Annual Benefit Statement (ABS). In certain circumsatnces credits from previous occupational pension plans may be carried forward into pensionable police service. The results produced by the calculator are indicative only and do not in any way constitute financial advice, which if required by a member, should be obtained from an independent financial adviser (IFA). (JBB Circular 13/2018 contains further information for Secretaries). Divorce and dissolution of civil partnerships 31 12. We're here to be your central hub for information once you leave the Police - whether you need help with your new life, your new job or your new-found leisure time. SPPA will provide members with information at the time to help inform their decision. Police Pension Scheme 2006 . If you are not possession of the current value of your 2015 pension pot we will estimate the value using 1/55.3 per year based on your current annual salary. Therefore, there may be a variation between what the calculator predicts and what is actually provided under the CARE 2015 Scheme. This section provides a link to the Police Pensions Advisory Board webpage, which includes information related to the Police Pension Scheme Advisory Board. We have now had the opportunity to go through the Governments consultation response in detail and have met with the Police Scheme Advisory Board to establish what this means for all of our members on the varying schemes. Please either phone 01452 328949 or email peninv@gloucestershire.gov.uk to register your intention to attend, quoting your name, membership status i.e . Going forward our hope and aim is to ensure that this pensions calculator, produced by the HO/GAD, is as fit for purpose and user friendly as is possible. Click here to find a comprehensive FAQ document regarding the pension remedy. Check who you're dealing with before changing your pension arrangements. McCloud/Sargeant and the 2015 Remedy pension calculators, Early Retirement Reduction Buy Out (ERRBO), Special class members and Mental Health Officers, Special Class and Mental Health Officer FAQ, Protection of Pay and Voluntary Protection of Pay, Pension estimates and annual benefit statements, NHS (Scotland) pension schemes death benefits, Resource account calculator (Protected members), Resource account calculator (Unprotected members), Teachers Early Retirement Reduction Buy Out (ERRBO), Joining the Scottish Police Pension Scheme 2015, Opting out or leaving the police pension scheme, Legal Aid (Scotland) Pension Scheme post 2010 Section, Legal Aid (Scotland) Pension Scheme pre 2010 Section. XPS Administration PO Box 485 Middlesbrough TS1 9EE www.myownpension.co.uk www.xpsgroup.com. The police pension schemes are covered by governance arrangements that were introduced under the 2013 Public Service Pensions Act. AFPS Calculator and McCloud We have been informed by the MoD that they anticipate the McCloud calculator will be rolled out in early 2022. The guidance can be accessed here. Following a consultation exercise, the Government has set out how it intends to remove the unlawful discrimination caused by the transitional protections, which is hereon referred to as the Remedy. Summary funding statement. XPS Administration Contact Details Pension Calculator The 2018 Home Office Pension Calculator is available at the link below. April 2021 - Seeking evidence that Remedy will not cause further discrimination. NHS members who have entered the scheme via the Choice exercise will also be unable to access the calculator at this time. Pension Remedy FAQs If you require help with filling in the "About You section, please refer to your most recent annual benefit statement. The results shown are only estimates, based on your inputs and other assumptions. If the service is pensionable, that is how it is worked out for an AFpS 75 preserved pension. Find out more about how you can access an online calculator to provide you with an illustration on the impact of the 2015 Remedy on your pension entitlement. Help. We've based our example on a pension of 200 per month. Wed like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services. The purpose of a police injury pension scheme was explained by the . Refer to your pension scheme handbook for full details. Members should be aware the calculator is for guidance only and the information provided is an estimate. A remedy calculator (My Own Pension - McCloud) is also now available for members or former members of the Police Pension Scheme 1987 and 2006 to use. Please ensure that you have selected the correct pension type - This is a short service pension which is payable immediately after completion of at least two but less than 25 years' pensionable service, Please ensure that you have selected the correct pension type - This is an ill-health pension, Please ensure that you have selected the correct pension type - This is a deferred pension which you are entitled to if you have at least two years to count towards qualifying service, and you either (a) leave the police, or (b) cease to be a member of PPS by opting out of it, without transferring your PPS rights to another pension scheme. It covers all police pensions and while the 87 & 06 Pensions are relatively straight forward we suggest you read this advice when estimating a 2015 scheme pension. This site is a hub of pension information which will hopefully serve you well during your career and in your retirement. September 2022 Letter from the seven UK Staff Associations to the Home Office. Engaging with the Government around the police pension schemes is one of our most important areas of work because a police pension has always been regarded as a key element of the remuneration of our members. This section contains updates and policy information that Police Pension Scheme members may find useful. The Police Pension Calculator does not account for the changes being introduced by the 2015 remedy. You have accepted additional cookies. We adjust your April pension for the 10 days we pay your April pension at the old rate. Retired members will be offered their choice once the legislation and processes are in place. Dont worry we wont send you spam or share your email address with anyone. Once the member selects the benefit statement screen, they will be provided with some basic personal information (such as the pensionable pay used, and the address that we hold). It is not intended to provide financial advice.