Leaving the Scheme
You can opt out of the 2006 Scheme at any time. If you opt out in the first 3 months of your Police Force, your decision is back-dated to the date of your becoming a regular Police Officer. If you decide to leave the 2006 Scheme at any other future date, your decision will take effect from your next pay day after receipt of your notice to opt out.
Opting out of the 2006 Scheme will have a number of consequences, including:
- if you build up 2 years or more qualifying service and then opt out, you will be entitled only to a deferred pension, which would generally only be payable from age 65;
- if you die in service when you have opted out of the Scheme, NO lump sum death grant is payable;
- as someone who is not an active member of the 2006 Scheme, you will NOT be eligible for an ill-health pension if you are medically retired, although you will qualify for early payment of your deferred pension if you are assessed as permanently disabled for all regular employment.
If you are thinking of opting out of the 2006 Scheme, you are strongly recommended to seek Independent Financial Advice before making your decision.