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Yorkshire

2015 CARE Pension & career breaks?

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Could anyone please help me answer a question from a work colleague?

One of the officers I work with has 20yrs service, and has always paid into the police pension. He as accrued a number of years in the 1987 scheme which is now locked away, and he is now paying into the 2015 CARE scheme. He is planing on retiring in 5yrs time when he is age 50 and with 25yrs service. He can then draw a reduced pension from the 1987 scheme, and then when he is aged 55 he can draw a reduced pension from the 2015 CARE scheme if he chooses. However, he is now considering a 5yr career break.

So, If he took this career break he would have 25yrs service at the end of it. But I think the career break would prevent him from retiring at 25yrs service. He wouldn't be paying into any police pension during the career break and I think this would prevent him from retiring at 25yrs. Im of the belief that to retire at 25yrs service he must remain paying into the current 2015 CARE pension. Am I correct?

 

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Yes that's correct. The Career break does not count for the purposes of pensionable service. So if he took the career break then in five years time, he will have 20 years service and be 50 and thus unable to claim a pension of any sort. He will have to wait until he is 55 (or the age that achieves 25 years pensionable service in relation to the 87 scheme - which is in fact 55 in this case).

The crux of the matter is that pensionable service, is service in any pension scheme, for the purpose of  claiming a pension under the 87 rules. 

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I assume if he went part time for the next 5 yrs but remained in the 2015 CARE pension then he could still retire after 25yrs service, and draw a pension from his 1987 scheme?

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