How your benefits are treated when you leave the scheme depends on how much service you have. This includes any service from either the Police 1987 or Police 2006 schemes.
If you have transferred in benefits from a previous scheme, you will automatically be treated as having at least two years' service.
If you leave the scheme within three months of joining your only option is to take a refund of your contributions less certain deductions. You will have no further benefits remaining in the scheme.
If you have transferred benefits in from a previous scheme you will be treated as having been a member for more than three months.
You have a choice, you can either:
If you think you may re-join the scheme at some point in the future, you may wish to delay claiming a refund until you have a firmer idea of your future intentions.
Once you have been a member of the scheme for at least two years, you will not earn any further benefits but the amount you have built up will remain in the scheme and be revalued in line with increases in the Consumer Prices Index until you retire.
While membership of the scheme is automatic, it is not compulsory. You can choose to opt out at any time after joining by completing an Opt out form. To request an Opt out form, please contact the Police team at SPPA. Tel No: 01896 893080.
If you opt out of the scheme, if you continue to meet certain conditions, your employer will automatically re-enrol you back into the scheme in every three years.
You can re-join the scheme at any time by contacting your employer.
Before making any decision to opt out of the Police 2015 scheme, you should compare the cost of your options and the package of benefits provided by the scheme. Advice can be sought from an independent financial adviser or your professional association.
It’s important to note that if you take a career break, or opt out, you must return to the scheme within five years if your pension is to be revalued in line with increases in the Consumer Prices Index (CPI) plus 1.25%. If you do not return within five years, it will be increased by CPI alone.
If you have full or tapered protection you will return to either the Police 1987 or Police 2006 schemes (if your tapered protection has not expired) only if you return within five years.
If you take a career break you must return within five years in order to maintain the link to your final pensionable pay for benefits earned in this scheme.