Police Pension advice

jimi_man

Yes that's pretty much what I said. I might have got the terminology slightly wrong, I thnk it's called 'weighted accrual' or similar but essentially it's to make up for loss of the double accrual.

You're more or less correct, it's 45ths if you complete 30 years service. However between 20 and 30 years it's on a sliding scale between 60ths and 45ths, obviously depending on years completed.

Bettingmad

jimi_man wrote: »

Yes that's pretty much what I said. I might have got the terminology slightly wrong, I thnk it's called 'weighted accrual' or similar but essentially it's to make up for loss of the double accrual.

You're more or less correct, it's 45ths if you complete 30 years service. However between 20 and 30 years it's on a sliding scale between 60ths and 45ths, obviously depending on years completed.

I don't think thats correct unless I have missed something? The only double accrual will be for those that are protected i.e more than 20 yrs service or those over 45 as of 1st April 2012. They will remain on the 87 scheme and therefore continue toward double accrual. All those that don't fall within fully protected will have their service recalculated on 1/45's as and when they eventually fall out of the 87 scheme. There is no sliding scale or requirement to complete the 30yr service from any of the information I have read up on.

The only sliding scale I am aware of is those that fall within tapered protection. Tapered protection refers only to how long an individual will remain in the 87 scheme beyond April 2015.

If I am wrong with regards to the double accrual as you have stated, could I ask that you point me in the direction of the information that yo posted?

jimi_man

Bettingmad wrote: »

I don't think thats correct unless I have missed something? The only double accrual will be for those that are protected i.e more than 20 yrs service or those over 45 as of 1st April 2012. They will remain on the 87 scheme and therefore continue toward double accrual. All those that don't fall within fully protected will have their service recalculated on 1/45's as and when they eventually fall out of the 87 scheme. There is no sliding scale or requirement to complete the 30yr service from any of the information I have read up on.

The only sliding scale I am aware of is those that fall within tapered protection. Tapered protection refers only to how long an individual will remain in the 87 scheme beyond April 2015.

If I am wrong with regards to the double accrual as you have stated, could I ask that you point me in the direction of the information that yo posted?

Hi.

In a nutshell, one of the vagaries of the Police pension scheme is that twice the amount of pension is accrued in the last 10 years of service. In an effort to protect ‘accrued rights’ for those people who were not protected but still had a portion of 1987 pension, and who had an expectation that they would get 'faster accrual with increased service', the govt have come up with a calculation that takes this into account. Basically the more service you have - the greater the accrual rate. If you look at this link it explains it all and gives the formula to work it out.


https://www.gov.uk/police-pension-reform

Scroll down to Double Accrual.

Hope that helps.