Let’s talk pensions. I know it’s a confusing and boring subject to tackle. Equations, formula’s, 1/70th this 2/60th that lumps sums, weighted accrual final salary, revaluated earnings. The convoluted terms and roundabout ways used to determine what you should expect for your contributions can be a minefield to navigate. It’s no wonder … More The Great Pension Robbery
The Career Averaged Revaluated Earnings (CARE) Scheme The CARE 15 scheme is still a defined benefit scheme only this time your pension is calculated by adding a number of pots together which gives you an average earning over the period of your contributions. The accrual rate is set at 55.3 which is lower than the … More The CARE Scheme
The 2006 Police Pension Scheme (06 PPS) The 2006 Police Pension Scheme is a final salary career defined pension. The Scheme was introduced in order to combat the growing costs associated with public sector pensions. In order to do this the equations and benefits were changed in order to redress the balance between the officer’s … More The 2006 Police Pension
The 1987 Police Pension scheme (87 PPS) The Scheme is a final salary career defined pension. It has a scheme retirement age of 60 but also allows to retire after attaining 30 years pensionable service. Essentially over your 30 years’ service you would accumulate 1/60th of your salary each year up to a maximum … More The 1987 Police Pension Scheme
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