POLICE PENSION UPDATE PENSION MATTERS Senior Pension Advisor at PFEW, Paul Turpin, addresses the
ongoing issues with Police Pension and offers insights into the work being done to address them
I have been dealing with police pensions for over eight years and now work for both the Metropolitan Police Federation and the Police Federation of England and Wales (PFEW). I also represent members at Police Medical Appeal Tribunals for ill- health and injury on duty matters. It has been a hugely difficult period for police pensions and the remedy continues to throw up challenges. I know from my experience in speaking directly to members that there is frustration, and I fully appreciate that. I hope to give some information into a few of the pension issues in this short article, but more detailed information is available and will continue to be refreshed with updates on communication channels such as the PFEW website and newsletters (links below).
ANNUAL BENEFIT STATEMENT PFEW along with local Branch Boards are working with forces and pension administrators to address the issues that have been encountered with the roll out and we will continue to update members. We are disappointed that the forecasts
“Forces have been slow in providing local guidance and processes and our advice
would be to approach your force and ask for authority to obtain the advice before spending money on that advice.”
PENSIONS TRAP The pensions trap is still being considered and members will be updated as soon as we are able. This is a priority for us at the PFEW.
08 | POLICE | OCTOBER | 2024
were based on 60 as the age forecasted to, especially as members then struggle to get a forecast for their chosen exit point from the pension administrators. PFEW will continue to lobby for age 55 to be the forecast age and for administrators to provide a service that fits the needs of members. There is work on automation taking place which will hopefully assist with this issue, but that may take a little while to come to fruition.
OTHER ONGOING CONCERNS We are still awaiting an update on the tax issue that has stopped immediate choice members from being remedied. We are very aware of the 31 March 2025 deadline for this and are hopeful that HMRC will produce a solution in the coming weeks rather than months. HMRC published a newsletter on 19 September 2024 which appears to suggest that agreement has been reached and once the promised guidelines are published members will be updated.
The buyback of opted out
service has been paused due to issues with the regulations and we await an update from Government on how they are going to address this to ensure those members are put back in the position they would have been but for the discrimination. PFEW is taking legal advice around this and particularly for those who opted out prior to 1 April 2015. Members will be able to obtain financial,
tax and legal advice (divorce) under the compensation framework. Forces have
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48
