Police Pension drawdown...

KevinM

Hi,

I was wondering if there are any experts here on Police Pensions please?

Thanks,
Kevin

xylophone

Police Pension drawdown...

I am somewhat puzzled by "drawdown"....surely the pension is defined benefit and you just get a monthly pension, possibly after taking a lump sum?

https://www.gov.uk/government/collections/police-pension-schemes

KevinM

xylophone wrote: »

I am somewhat puzzled by "drawdown"....surely the pension is defined benefit and you just get a monthly pension, possibly after taking a lump sum?

https://www.gov.uk/government/collections/police-pension-schemes

Yeah, I mentioned drawdown because I want to access my 1987 PPS pension, but remain in the force...

I will have reached the 25 years service next year, and so would like to draw on my pension, but carry on working in my current police position...

Do I need to actually retire, i.e finish working for the Police to be able to take my PPS pension, or can I access it, simply by requesting to draw my PPS pension, but not leave the force?

Thanks...

AnotherJoe

You really need to be asking the right department at work detailed and specific questions like that To easy to miss something.

KevinM

Obviously, I am not taking any responses on here as financial advice, but I just wanted to see if there were any people who knew their way around Police pensions (seeing as they are quite a bit different)...

The response I so far have got from work is that I can retire at 52 after 25 years service and take my PPS pension...but I don't want to retire, I want to simply draw on my pension, and continue in my current position...

The department I asked seems to dodge the question I specifically ask, and cut & paste a paragraph from the PPS 1987 Member Guide...

OldBeanz

KevinM wrote: »

Obviously, I am not taking any responses on here as financial advice, but I just wanted to see if there were any people who knew their way around Police pensions (seeing as they are quite a bit different)...

The response I so far have got from work is that I can retire at 52 after 25 years service and take my PPS pension...but I don't want to retire, I want to simply draw on my pension, and continue in my current position...

The department I asked seems to dodge the question I specifically ask, and cut & paste a paragraph from the PPS 1987 Member Guide...

It would be unusual if you can as most Government Pensions look to you to downgrade or cut hours so that you do not earn any more than before taking your pension. In the Civil Service for example, they call it abatement "A Abatement is the reduction or suspension of your pension. The Civil Service pension scheme rules do not allow you to earn more in pension and salary from an organisation covered by the scheme than the salary you were earning before you took your pension."
The Police may well be different but I would assume you know officers who have served longer than you and they may be the best source of advice.

KevinM

Thanks for that info...It might explain the reason that no one has come back and told me definitively if I can or cannot do what I was thinking of, but if the Civil Service regulations state that Salary plus Pension cannot be greater than Salary, then it is probably a non starter...

I did not know that about the Civil Service regulations, so thanks for that info...

hugheskevi

The pension scheme guide is at this link.

Section 10, pages 29 and 30 are relevant.

KevinM

Thanks...I think that covers everything I need to know

Appreciate the help!

TrickyDicky101

I know one of my father's friends retired from the police approximately 15 years ago (think he was a DI at the time of retirement) and he took his pension and then took a job in the MOD police. I don't believe his pension was reduced when he took the new role. Apologies, this is all third hand info but maybe food for thought!