Police Pension schemes - news
Pension Ombudsman Ruling
Following a recent ruling from the Pensions Ombudsman regarding the calculation of commutation factors for members of the Police Pension Scheme, who retired between 1 December 2001 and 30 November 2006, we are currently waiting for further guidance from the Government Actuaries Department (GAD) on how any payments due to those affected will be calculated.
As soon as we receive this we will begin to work through the cases of the members identified as being affected. We expect this to be a big project and we ask for your patience. We will be in contact with all of the members affected as soon as possible.
GAD - Commutation Factors – Update of 3 July 2015
Police AVCs - Equitable Life payment scheme
The Equitable Life payment scheme was set up to make payments to Equitable Life policyholders who suffered financial losses as a result of Government maladministration which occurred in the regulation of Equitable Life.
The government has appointed Atos to administer the payment scheme. Under the scheme’s rules, Atos can only send payments directly to individual members. The Equitable Life Police AVC scheme is a group scheme, handled by individual police authorities.
Atos is setting up a process for members and former members of the Police group AVC scheme. If you think you may be eligible for a payment, you will soon be able to contact them directly to check. If you are eligible, Atos will ask you for an address and proof of identity before they can send you the payment.
Check the Equitable Life payment scheme website to see whether you could be eligible.
There has been an update on commutation rates for officers who retired between 1998 and 2006. Please see Pensioners' news.
Commutation factors between 1998 and 2006
A test case has been brought by a member of the Firefighters’ scheme, concerning commutation factors. Any decision on the case is likely to affect pensioners in the Police Pension Scheme who retired between 1998 and 2006. Please see the Pensioner information page to find out more.
In 2010 the Home Secretary appointed Tom Winsor to lead a comprehensive review of police officer and staff pay and conditions. The review includes police pensions.
We have added links for the Winsor Review to our police useful links page.
Police Pension Scheme and New Police Pension Scheme - members' guides
The schemes have changed since the members' guides were written. Factsheets which outline the main changes have been written to accompany the guides. The factsheets and the members' guides are available on these links: