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Techie1

Home Office may bring back pensions calculator

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Tool has been removed for officers in England and Wales.

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The Home Office is considering bringing back a pensions calculator to demonstrate to officers in England and Wales the outcomes of paying in.

Earlier this week PoliceOracle.com reported the Scottish Public Pensions Agency is to launch such a tool following the revelation that ten per cent of officers in the country are not part of the scheme.

Scottish Police Federation chairman Andrea MacDonald revealed the statistic regarding the 1,600 officers not paying in for a pension.

She said UK Government changes in 2015 had put people off, but encouraged them to sign up for “the best investment you will ever make”.

A spokesman for the Police Federation of England and Wales told PoliceOracle.com yesterday: “We are aware a calculator is going to be available for officers in Scotland. We are actively encouraging the Home Office to look at providing a pensions calculator for use by officers in England and Wales.”

Figures for the current scheme take-up in England and Wales are harder to obtain as they are held by each of the individual forces.

The Home Office, which previously had such a tool on its website, says it is weighing up whether to do so again.

A Home Office spokesman said: “This government is committed to ensuring that public service pensions are affordable, sustainable and fair. 

“We are considering the merits of and options for a benefits calculator for police pension scheme members in England and Wales, but no decisions have been taken at this stage.”

He added the government is working with the England and Wales Scheme Advisory board on the issue.

A Police Federation for Northern Ireland spokesman said the staff association is not aware that the PSNI has experienced a similar drop-off in those taking up pensions since 2015.

View on Police Oracle

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I know of quite a few officers who have recently opted out of the pension scheme. I also know of a few new officers who never signed up to it in the first place. Personal circumstances dictate, though I'd always advise to be in the pension.

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From my shift of 15, 3 have left the pension scheme, although the new pension is still good in comparison to most, those who have left don't trust HMG not to shaft them again and would rather have the money now and invest in property or pay off their mortgages early.

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I understand why some cops come out of the pension, but the amount you see disappearing from your wage into your pension isn't the amount you would get if you stopped paying in.

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Even though many have lost out on the values of the pension it is still better than the majority of pension schemes. Private pensions cannot compare.

 

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