Joining Police aged 44 - pension?

barnstar2077

If you decide to go ahead, then I thank you for stepping up.  I think it would be a very tough role, I don't think I could do it as I am a bit of a marshmallow! :  )

kipsterno1

Would you / can you transfer your current LGPS into the police pension scheme? Not sure how that works under the CARE scheme.

WYSPECIAL

Bear in mind that if you remain a constable or sergeant throughout your service retiring at 60 will be compulsory, not a choice. If you feel retiring at 60 is what attracts you have you worked out figures if you retire from your civilian role at 60?

Another  route you might want to consider is volunteering to serve in the Special Constabulary. You may well find that you will be allowed paid time off from your day job for part of your volunteering hours, many employers do and with your employer being a police force almost certainly will.

Depending on what your current role is you may also want to look into direct entry at Inspector rank.

2016housebuyer

jimi_man said:

Hi

I plugged those figures into a calculator I made when the pension changes were brought in a few years back. If you did the full 16 years then ignoring inflation (but including the 1.25% yearly uplift), and ignoring pay rises, then you'd end up with about £11.6k per year pension at 60 - as D&C suggested.

Without teaching you to suck eggs, joining the police as an officer is considerably more than just the pension and there are a lot of factors involved that make the pension a very small part of the decision to join. Obviously being in a police civilian role you have some idea of this, but it's worth pointing out. I went the other way - I did 30 years in the police then went into a civilian role (now in the Civil Service) and it was a massive wrench when I changed roles and the same would apply the other way round.

Good luck anyway, it's a great job. Shout out if you want any more pension figures. 

Thanks, really appreciate that - apologies for the delayed response but I didn't check back until now.

I know there's more to it than the pension but in relality I can't justify such a big pay drop for 5 years if there's no light at the end of the tunnel! It seems so many officers are leaving prematurely nowadays due to the unsustainable pressures so it does feel a bit mad to be considering taking the leap but I'm up for the challenge.

2016housebuyer

kipsterno1 said:

Would you / can you transfer your current LGPS into the police pension scheme? Not sure how that works under the CARE scheme.

As I understand it, no. Haven't had 'official' advice as I don't think HR are allowed to advise but they gave the phone number for the LGPS scheme and said their understanding was that it couldn't be transferred.

2016housebuyer

WYSPECIAL said:

Bear in mind that if you remain a constable or sergeant throughout your service retiring at 60 will be compulsory, not a choice. If you feel retiring at 60 is what attracts you have you worked out figures if you retire from your civilian role at 60?

Another  route you might want to consider is volunteering to serve in the Special Constabulary. You may well find that you will be allowed paid time off from your day job for part of your volunteering hours, many employers do and with your employer being a police force almost certainly will.

Depending on what your current role is you may also want to look into direct entry at Inspector rank.

Thanks, retiring at 60 is not necessarily what attracts me but is the 'pay off' for taking such a big pay drop for the first 5 years as my current salary is 34k and the starting salary of a PC is 27k including the SE allowance.

I've no desire to take on a supervisory role, ever! I've done that in a different career and it wasn't for me.

hyubh

2016housebuyer said:

kipsterno1 said:

Would you / can you transfer your current LGPS into the police pension scheme? Not sure how that works under the CARE scheme.

As I understand it, no. Haven't had 'official' advice as I don't think HR are allowed to advise but they gave the phone number for the LGPS scheme and said their understanding was that it couldn't be transferred.

It will be within 12 months of joining. The transfer would be on 'Club' terms, so the CARE part of your LGPS pension would come in as a PPS 2015 pension credit (not the same amount) and revalue as LGPS CARE pension does (CPI). Any final salary pension (pre-14) will purchase (I think) a PPS 2006 scheme credit. That said, I would imagine a large salary drop would make a Club transfer a bad idea, even with xxx years to catch up. 

When you say your LGPS NPA is 68, keep in mind that's the CARE NPA. Assuming you joined before 2014, some of your LGPS pension will have an NPA of 65. And NPA <> the age you can actually draw your benefits. So the correct comparison is a PPS 2015 pension at 60 vs. an actuarially reduced LGPS pension at the same age. Stay in the LGPS, and there may also arise possibilities like a flexible retirement to further complicate matters.

chelseablue

I'm 38 and have joined the police. Currently on week 7 of training

My force also has the SE allowance, so now I'm curious if you're joining the same one as me

2016housebuyer

hyubh said:

2016housebuyer said:

kipsterno1 said:

Would you / can you transfer your current LGPS into the police pension scheme? Not sure how that works under the CARE scheme.

As I understand it, no. Haven't had 'official' advice as I don't think HR are allowed to advise but they gave the phone number for the LGPS scheme and said their understanding was that it couldn't be transferred.

It will be within 12 months of joining. The transfer would be on 'Club' terms, so the CARE part of your LGPS pension would come in as a PPS 2015 pension credit (not the same amount) and revalue as LGPS CARE pension does (CPI). Any final salary pension (pre-14) will purchase (I think) a PPS 2006 scheme credit. That said, I would imagine a large salary drop would make a Club transfer a bad idea, even with xxx years to catch up. 

When you say your LGPS NPA is 68, keep in mind that's the CARE NPA. Assuming you joined before 2014, some of your LGPS pension will have an NPA of 65. And NPA <> the age you can actually draw your benefits. So the correct comparison is a PPS 2015 pension at 60 vs. an actuarially reduced LGPS pension at the same age. Stay in the LGPS, and there may also arise possibilities like a flexible retirement to further complicate matters.

Thanks, I've been in the LGPS pension since around 2006. I think the simplest thing would just be to start afresh with the Officer police pension and then whatever I get from the LGPS later in life is a bonus!

2016housebuyer

chelseablue said:

I'm 38 and have joined the police. Currently on week 7 of training

My force also has the SE allowance, so now I'm curious if you're joining the same one as me

 Essex, Herts, Kent, Surrey & Thames Valley all get 2k South East allowance and then Beds Hampshire & Sussex all get 1k

How did you find the fitness test, that's going to be the biggest hurdle for me - excuse the pun!