Get your finances in order

28 April 2021

Derbyshire Police Federation members can get free help with their finances through a series of online sessions hosted by Police Mutual.

Police Mutual provides financial services and welfare support to the police service, and offers help to Federation so they can better manage their money.

It is hosting modules online during May to examine a range of personal finance issues, including mortgages, borrowing and pensions.

They kick-off with sessions looking at police pensions on 10 May (9.30am to 10.30am) and 12 May (11am to midday).

This module provides an overview of the occupational pension scheme including contributions, when you can retire, lump sum options and dependants’ pensions.

Similar modules looking at police staff pensions take place on 10 May (3.30pm to 4.30pm) and 12 May (9.30am to 10.30am).

You can learn about understanding your tax code and claiming allowances with the Effective Cash Management session. It also includes hints and tips on saving money, budgeting and saving for future needs.

These modules are on 10 May (11am to 11.45am) and on 20 May (9.30am to 10.15am).

Understanding Borrowing and Credit takes place on 12 May  (11am to 11.45am). This session will help you get on top of bills, borrowing and the financial assistance available during the pandemic. It will also look at prioritising debts, the support available, and managing your credit score.

Protection, Wills and Estate Planning gives an overview on the laws of intestacy, inheritance tax, lasting power of attorney and will writing options. It also provides a reminder of the benefits provided through pensions, the Group Insurance Scheme and staff associations and the importance of keeping beneficiary nominees up to date.

This module is on 12 May (3.30pm to 4.15pm) and 13 May (9.30am to 10.15am).

Everything you need to know about Re-mortgaging and Movers is covered in a module on 13 May (3.30pm to 4.15pm).

Mortgages for First-Time Buyers is the topic on 20 May (11am to 11.45am). This session discusses renting and buying, the differences between leasehold and freehold, the housing market, mortgage and banking terminology, key steps to buying, costs and fees, mortgage types, different ways to get on the property ladder, places you can get help from and financial wellbeing tools.

Email ross.hume@pmas.co.uk to book your place on any of the sessions.