Part time to full time working Police Pension

spender

Am a complete numpty when it comes to Pensions (despite reading everything I can). I currently work part time as an Officer and am in the 2006 scheme. If I increase my hours dramatically as I am nearing pension age (55) would this mean that my final year at more hours would be what the pension is based on? Basically if I work virtually full time for the next year would it be beneficial or not really?
Hope you understand the post!

Southend1

If you worked full time instead of half time for a year you would get an extra year of pensionable service rather than half a year.

jem16

spender wrote: »

Am a complete numpty when it comes to Pensions (despite reading everything I can). I currently work part time as an Officer and am in the 2006 scheme. If I increase my hours dramatically as I am nearing pension age (55) would this mean that my final year at more hours would be what the pension is based on? Basically if I work virtually full time for the next year would it be beneficial or not really?
Hope you understand the post!

It would only be beneficial in the sense that you would accrue a full years service as opposed to half a year. All pensions are worked out on the full-time equivalent salary regardless of part-time of full-time work.

kidmugsy

If working full time were somehow to bring you a pay rise, in the sense of more salary per hour worked, then you'd gain twice.

hyubh

spender wrote: »

as I am nearing pension age (55)

Is that definite? For the scheme itself the normal pension age is from 55 with a maximum accrual of 35 full time years (*) - as you're a part timer, and moreover, haven't been in long anyway given the scheme only started in 2006, from a pensions point of view it would be most opportune keep the job (and your pension membership) going past 55 if you could, even with the scheme changing next year.

(*) Maximum accrual in the 1987 scheme, in contrast, is only 30 full time years (it's on a more generous basis); as such, if a full timer joined the 1987 scheme or its predecessors aged 25, and stayed in it after age 55, they won't earn any more pension for doing so.