September 4th, 2012

So here it is

Posted in The Job - General by 200

So the decision on police pension reform is out today.

From April 2015, the pension contributions rise from 11% for old pension members and 9% for the newer scheme which came in around 2006, to 13.7%, a rise of between nearly 3 and 5%.

The final pension will be based on  ‘career average’ rather than a ‘final salary’ earnings.

The normal pension age will be 60 but officers aged 55 will no be able to draw their full pension amount until they reach that age. The two reports I read today don’t make it clear how long an officer must serve to get the full pension. It used to be 30 years but rose to 35 in 2006.

I’m glad I retired when I did.

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