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. Full guidance on how to use the calculator and further help is available when you open theremedy calculator home page. 2. The Pensions Calculator went live on 9 March 2018. 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. 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). 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. There is no limit to the number of alternatives that can be generated for comparison purposes. Enter all periods of part time working and the hours per week worked (out of 40). It does not take account of individual circumstances, particularly if you: Find out about all other pension schemes here. 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. Officers can now view their 2021 annual benefit statement via XPS's Member Self Service (MSS). 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. We've based our example on a pension of 200 per month. Police Pension - Frequently Asked Questions Guidance on using the Police Pension Calculator. 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. The calculator assumes that CPI movement will be +2% on an ongoing basis. 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. This calculator will provide an illustration of your pension at a chosen retirement age. Please send any feedback that you have to your Branch Board Secretary who can collect the information and send it on to us. When you use the calculator you'll get: 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. Please do not make any financial decsions until you have an official projection from your own pay department. 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. There are also some elements that are not under officers control, such as movements in the Consumer Price Index (CPI). Login here 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. If you do find errors in our calculation we would be pleased to hear from you. 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. PFEW's comprehensive update on the position with the police pension schemes January 2019. The Remedy is being implemented in two parts; firstly, rectifying the discrimination regarding future pension provision and secondly, rectifying the discrimination already caused. 01642 030693 pensionsunit@xpsgroup.com. 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. Estimates for retirement providing full remedy period benefits in either the legacy or CARE schemes will be available once legislation and software is in place in late 2023. Dont include personal or financial information like your National Insurance number or credit card details. Let us forecast your likely retirement income. We apologise for the inconvenience this may cause members affected and we will provide an update once this functionality becomes available. This section contains updates and policy information that Police Pension Scheme members may find useful. Police & Fire. google_ad_height = 600; Information on policy updates and pension scheme governance added. . Under the CARE 2015 Scheme, benefits accrue on a yearly basis based on the pay received by the member during that year. However, no allowance is made for any increases in salary due to promotion or incremental progression. Your forecast will include income from defined benefit and defined contribution pensions, and your State Pension. 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. It will take only 2 minutes to fill in. The normal pension age for the 2015 scheme is 60, although you can retire from age 55 with actuarially-reduced benefits. 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. 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. These schemes are all defined benefits schemes, but the benefits from the first two are based on the members final salary, whereas the CARE 2015 Scheme is a Career Average Revalued Earnings (CARE) scheme. If you can't use the Pension Portal, use the Retirement Modeller to estimate your pension. version of this document in a more accessible format, please email, Check benefits and financial support you can get, Find out about the Energy Bills Support Scheme, New State Pension: if you've been contracted-out of additional State Pension. Personal Details Name Current/Previous force Previous Occupation Following feedback from members and reps that the new calculator was proving quite challenging to use, we have produced some guidance to help those wishing to use it. It's a Microsoft Excel file and can be used by members of the 1987, 2006 and 2015 schemes - as well as members who have benefits in more than one scheme. You must have JavaScript enabled to use this form. . Members who retire before 1 October 2023 will have their benefits calculated on their current scheme entitlement. Get started by telling us some basic details. 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. If you require financial advice, you should contact an independent financial adviser. Please enter your search criteria below and select Search. Dont worry we wont send you spam or share your email address with anyone. Find out more>, The results produced by the calculator are indicative only and do not in any way constitute financial advice, Case Studies: DC Chris Beech discusses the impact of DG6 on workloads, Case study: Horrific three year investigation, Case study: Sussex - five year investigation, Case study: "I thought I would go to jail", "I wish Id gone to the Federation sooner, "Id have hated to be fending for myself". 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, an illustration of benefits, in todays' money terms, that may become payable at a retirement date selected by you, a description of the benefits payable for each scheme you've been a member of, an estimate of the maximum lump sum that could be payable. before any reductions. You'll need your latest Annual Benefit Statement (ABS). Furthermore, whilst the assumptions are based on the best information available to GAD actuaries, they are predictions, and therefore they cannot be perfect. Members with 1987, 2006 and 2015 scheme benefits can use our 2015 remedy calculator to view a dual estimate and comparison between their legacy and CARE scheme benefits. Read the consultee list for the police pension scheme regulations. We use some essential cookies to make this website work. The guidance can be accessed, The Home Office has now issued an update to the, Case Studies: DC Chris Beech discusses the impact of DG6 on workloads, Case study: Horrific three year investigation, Case study: Sussex - five year investigation, Case study: "I thought I would go to jail", "I wish Id gone to the Federation sooner, "Id have hated to be fending for myself", existing informal and non-statutory guidance. In our response to the Remedy consultation we raised serious concerns around the impact of the Remedy proposals on some groups of members. PFEW are currently exploring the possibility of taking legal claims on this matter. If you have not received an email from mss@xpsgroup.com within five minutes, please check your junk/spam folder. google_ad_slot = "2985645571"; Join the over 93,000 former officers who are already benefiting from our expert advice and exclusive deals. This section provides a link to the Police Pensions Advisory Board webpage, which includes information related to the Police Pension Scheme Advisory Board. 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 In short summary the Government response details that: What is positive from the response is that the Government has chosen to implement the Remedy through the Deferred Choice Underpin option, which was the option we recommended in our response to the consultation back in October 2020. 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 You have rejected additional cookies. Contact details are as follows: Website www.myownpension.co.uk Email penmail@xpsgroup.com Phone 01642 030692. To help us improve GOV.UK, wed like to know more about your visit today. It will assumed that any periods of employment not entered are full time. In certain circumsatnces credits from previous occupational pension plans may be carried forward into pensionable police service. 01642 030692 penmail@xpsgroup.com. google_ad_width = 160; You can change your cookie settings at any time. We have also written directly to the Home office on a number of other concerns including taxation implications of the Remedy, the position of late joiners to PPS 87, and non-club transfers affected during the Remedy period. We can then collate the comments centrally and pass them on to the HO/GAD. A collection of information related to the police pension schemes. Police Injury Pensions: Introduction. Tax relief February 2021 Government consultation response. 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. It helps you understand the level of funding that supports your KGPS pension. 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. 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. Three sets of results are shown on the basis that salary increases and inflation will be CPI, CPI+1% and CPI+2% respectively. Instead, this amount will be used to purchase a pension pot that could - in . Police Pensions calculator. Added "Public service pension schemes consultation response guidance". 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. It can be accessed via the below link : - http://www.myownpension.co.uk/ Until secondary legislation is in place, expected to be after October 2023, SPPA can only provide pension estimates based on the current legislation. The highest substantive rank held for two years or acting rank held for 3 . It's expressed as a lump sum, but you won't receive it as a lump sum. The Home Office has now issued an update to theexisting informal and non-statutory guidanceon immediate detriment cases. To help us improve GOV.UK, wed like to know more about your visit today. The Police Retirement Calculator is designed to help illustrate the projected benefits members will receive at different retirement ages from both the legacy and reformed Police Pension Schemes in Scotland. 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. A remedy calculator (My Own Pension - McCloud) is now available for members or former members of the Police Pension Scheme 1987 to use. XPS Pensions Group has an overall rating of 3.8 out of 5, based on over 112 reviews left anonymously by employees. 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. 4.1. This calculator is for guidance purposes and the outputs provided are illustrative only. We developed the retirement calculator to help people understand their pension implications following . XPS Administration PO Box 485 Middlesbrough TS1 9EE www.myownpension.co.uk www.xpsgroup.com. 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. June 2021 - Guidance for members about to retire. Members and employers of the Fund are invited to attend the Pension Fund's Annual Meeting which will take place on Thursday the 2 nd of March 2023 at 2 pm in the Council Chamber, Shire Hall. Gross Annual Income (to the nearest pound). Check the ScamSmart website or call 0800 111 6768 to see if the firm you are dealing with is . Welcome to XPSArena. 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. We also use cookies set by other sites to help us deliver content from their services. It is not intended to provide financial advice. 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). To estimate the value of your Scottish Police pension scheme benefits on any retirement date selected by you, just download our handy calculator. 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. Well send you a link to a feedback form. Summary funding statement. Help. Police Pension and index linking - NARPO Join us Become a NARPO member today.