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Police Pension
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I am a Sgt on maximum salary £37,071 (awaiting this years % increase) and am in receipt of additional allowances for housing/role/competency worth around £4000.
The figure is not based on maximum commutation, it is based on the 'standard' pension and calculated on current officers retirement figures compounded at 3% a year until 2017 using Excel and some formula a clever man from the Fraud Squad has fathomed, it does seem to be an accurate bit of software.
As far as I know the monthly payments are frozen until the individual reaches 55 when they are then index linked as you describe.
I intend jumping one more rank to Inspector reality permitting.. http://inspectorgadget.wordpress.com/ when on current salary scales my salary would be £46000 plus allowances. Such a further promotion will be of further financial benefit I'm just not sure it would be good for the soul.0
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