THE country\u2019s cops look set to take another financial hit with news that the Home Office wants pension contribution rises to 13.5% and 11.5% from 1 April.<\/p>\n
The majority of English and Welsh officers \u2013 on the 30 year pension scheme (PPS) \u2013 face a 1.25% rise to their monthly contributions \u2013 up to 13.5%.<\/p>\n
If police officers are on the newer 35 year scheme (NPPS), they face a 1% increase to a contribution rate of 11.5%.<\/p>\n
Mark Smith, chairman of Essex Police Federation, said \u2013 even though it is a consultation \u2013 he fully expected the changes to happen.<\/p>\n
He said: \u201cIt is going to go up. I don\u2019t think it is right. We pay the highest contributions within the public sector.<\/p>\n
\u201cAt the same time they are about to change the pension so we have to work longer \u2013 for less \u2013 and still make the same contributions and that can\u2019t be right. I am a strong believer of you get the pension that you sign up for.\u201d<\/p>\n
Mr Smith urged any Essex Police officers who are unsure of what to do with their police pension to seek independent financial advice.<\/p>\n
\u201cIt may not be the news that people want to hear – and I do not agree with the changes – but it remains the best pension out there,\u201d added Mr Smith.<\/p>\n
In July 2011, the Home Secretary Theresa May consulted the Police Negotiating Board (PNB) on her proposals to increase the amount paid by police officers into the police pension scheme (PPS) and new police pension scheme (NPPS) by an average of 3.2 % over a three year-period beginning in April 2012.<\/p>\n
Following representations by the Police Federation of England and Wales and Staff Side, the Home Secretary decided only to implement the proposed increase for the year 2012-13, with contribution rates for most officers rising by 1.25% for those in the PPS and by 1% for those in the NPPS.<\/p>\n
In making this decision, the Home Secretary did state that the Government was still committed to increasing police officers\u2019 pension contributions in the following two years, but that she would consult the PNB on any further increases.<\/p>\n
Police Minister Hon Damian Green wrote to the Independent Chair of the PNB asking the Board to consider an increase in contribution rates for 2013-14, which would take effect from 1 April 2013.<\/p>\n
For the majority of police officers in the Federated Ranks, the proposals would result in the following contribution rates:<\/p>\n
\u2022 Members of the Police Pension Scheme \u2013 13.5%<\/p>\n
\u2022 Members of the New Police Pension Scheme \u2013 11.5%<\/p>\n
The consultation on these increases will close on 20 February. The Police Federation of England and Wales stated it \u201cwill work with Staff Side colleagues to formulate a response to these proposals.\u201d<\/p>\n
More info here<\/p>\n
http:\/\/polfed.org\/mediacenter\/94B0105AA2124BBD810B44E1F22D22F1.asp<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" THE country\u2019s cops look set to take another financial hit with news that the Home Office wants pension contribution rises to 13.5% and 11.5% from 1 April. The majority of\u2026 read more →<\/a><\/p>\n","protected":false},"author":1,"featured_media":33,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/essexfedfocus.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/32"}],"collection":[{"href":"https:\/\/essexfedfocus.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essexfedfocus.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essexfedfocus.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essexfedfocus.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32"}],"version-history":[{"count":5,"href":"https:\/\/essexfedfocus.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/32\/revisions"}],"predecessor-version":[{"id":35,"href":"https:\/\/essexfedfocus.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/32\/revisions\/35"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/essexfedfocus.co.uk\/index.php?rest_route=\/wp\/v2\/media\/33"}],"wp:attachment":[{"href":"https:\/\/essexfedfocus.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essexfedfocus.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essexfedfocus.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}