Retirement

Even with recent changes to police pensions, the issue around retirement will be similar for all officers. At a certain point in your career, you will have reached a particular point when you are eligible for retirement.

For many officers on the 1987 scheme, retirement will come about after having completed 30 years service. This can include already transferred in pension time from elsewhere. HR and XPS Administration, the pensions administrator, will be able to assist you with this information about your own pensionable service date.

Even if you have the full 30 years pensionable service, you still need to inform the organisation that you wish to retire, on a given date.

There is no need to retire immediately on passing the 30 year point, but consideration will need to be given as to whether you continue to contribute to the pension scheme.

 The minimum notification period required is 28 days. This allows for several things to take place, including the arrangements around the paying of your pension.

 You should put your notification in a letter or email to Human Resources via your Line Manager.

If you are certain that your retirement decision will not change a longer notice period than the minimum 28 days would be beneficial, especially for you.  This point is especially true if you have a stock of leave or rest days to take prior to your retirement day. Give plenty of notice and ensure all the administration is done prior to leaving, Please be aware that Police Regulations do not allow for the payment of untaken rest days, so use up your entitlement before leaving. Ensure that you speak to duties prior to submitting your letter of retirement to confirm with them the details of any pre retirement leave.

We recommend that you include the following information in your letter of retirement.

• Your details including collar number and pin number
• Your intended date of retirement
• Whether or not you intend to commute a portion of your pension
• Details of any pre-retirement leave, including using up rest days
• If you are away on holiday towards the end of your service, what is the last date you are available to complete the relevant pre-retirement paperwork 

Corporate Finance will write to you at your home address. Included in the correspondence will be three pension options:

1. Pension without Commutation
2. Maximum Commutation and the residual pension
3. Maximum Commutation while avoiding taxation and the residual pension

This form is signed and returned with your Commutation election ASAP. If this is not done prior to your retirement date you could lose the right to a Tax Free lump sum.

 Payment of your lump sum will normally be made within the first week of retirement.

 Voluntary deductions from pay will be taken in full from your final pay.

Certain deductions will, with your signed authority be transferred to your pension via the Federation Office. The cost of the relevant deductions will be changed where appropriate to reflect the retired amount. These deductions will include:

• Group insurance Scheme
• Health Scheme 

Please contact the Federation Office on 01423 866342 as soon as you know your retirement date to organise continuation of your Group Insurance and Private Health cover from pensions.

The PTC now require retired officers to donate in order to access their facilities.  This can be arranged via the PTC with the setting up of a Direct Debit Mandate.  The Federation will send out information regarding this or you can look up "Sign up Now" on the Police Treatment Centres Website.

You will also be eligible to join NARPO and should you wish to continue to donate to the Welfare Fund, this would be most welcome.  Please note that whether or not you continue to donate to the Welfare Fund, if you were a member whilst serving - all the facilities are still available to you in retirement.

As a result of receiving a pension your income tax coding will automatically be transferred.  If you are taking up new employment it will be your responsibility to inform the Tax Office at Sunderland about that employment and your new employer that you are in receipt of a pension.