Home Secretary: New Police Pension is “very good package”

HOME Secretary Theresa May has risked infuriating police officers by describing the new police officer pension proposed for 2015 as a “very good package”.

Appearing in front of the Home Affairs Select Committee, Mrs May was told: “If all proposed [pension] changes were restricted to future members of the scheme much hostility and opposition could surely be avoided”.

However she responded that would not alter her belief that the Government are doing the right thing.

She told MPs: “This is not something unique to the police. Across the public sector people will be moved on to new pension arrangements.

“We have developed what I believe is a very good package in relation to the changes to police pensions. Across the public sector people are being moved on to new arrangements.”

The government announced on September 4 last year that, from 2015, a new “career average” scheme will replace the current final salary scheme and a new “normal” pension age of 60 will be introduced. As expected, average member contributions will increase to 13.7 per cent.

The government also announced that there will be no change in pension age or amount received at current pension age for those who, at April 1 2012, were aged 45 or over.

There is also no change for those who are members of the 1987 Police Pension Scheme, aged 38 or over and 10 years or less away from being able to retire with a maximum 30-year pension.

Mrs May added: “We have managed to protect, in the police pensions, those who are within 10 years of retirement and there is a tapering down of four years prior to that 10 years of retirement. I believe there is a good package there.”

Mark Smith, chairman of Essex Police Federation said: “It remains a good pension… but we do not know what the package is yet because the paperwork is still being written. We have very little information. We need more meat on the bones.”