At a Glance
Key features of the 1987 Scheme include:
- A Final Salary scheme, which means your pension is calculated as a proportion of your final average pensionable pay (generally in your last year of service as an active member).
- Your pension will depend on your pensionable service, which for most will be the length of service in the Police Force for which you have paid pension contributions, with appropriate adjustments for part-time service.
- The earliest date that a pension can be paid is age 50, depending on length of service (if you have 30 years’ pensionable service, you may retire with an immediate pension before age 50).
- 30 years’ service is needed for a maximum pension.
- An option to commute part of your pension for a tax-free lump sum.
- Each year of pensionable service for the first 20 years gives entitlement to a pension of 1/60th of final pay and each year for the final 10 years gives 2/60th, up to a limit of 40/60ths.
- Pensions in payment are generally increased for inflation (though only from age 55 unless the Officer is medically retired or other conditions satisfied).
- A lump sum death grant of 2 times pay.
- A pension for a widow, widower or surviving civil partner, normally half of the officer’s pension entitlement, which ceases on remarriage, the formation of a new civil partnership or cohabitation.
- A pension is NOT payable to a surviving co-habiting partner who was not married to nor in a civil partnership with the Officer.
- Dependent children under the age of 23 may qualify for a pension.
- An immediate pension and lump sum is payable to any Officer at any age who is granted ill-health retirement.
- A facility to buy more pension in the scheme (added years) within the overall limit of 30 years.