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The Police Pension Schemes

The Police Pension Schemes. The 1987 Police Pension Scheme (PPS) The 2006 New Police Pension Scheme (NPPS) All new entrants from 6th April 2006 have joined the NPPS.Transfer between schemes Options Exercise: 1st November 2006 ? 31st January 2007. . . . . . PPS ? Why was a review needed?.

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The Police Pension Schemes

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    1. The Police Pension Schemes

    2. The Police Pension Schemes The 1987 Police Pension Scheme (PPS) The 2006 New Police Pension Scheme (NPPS) All new entrants from 6th April 2006 have joined the NPPS. Transfer between schemes Options Exercise: 1st November 2006 – 31st January 2007

    6. Age Profiles

    9. Equality Considerations

    11. Lessons Learned Importance of involving top leadership in the process as early as possible Difficulty of implementing the new scheme at the same time as managing A-Day changes Don’t underestimate the complexity of the transitional arrangements

    12. Financing of Police Pensions

    14. Previous Finance Arrangements

    15. Aims of the new system Increase transparency of operational costs Minimise the impact of year-on-year volatility More effective management of police resources Ensure that Police Authorities are no longer responsible for the rising costs of pensions in payment Ensure that Central Bodies and Units take responsibility for the actual cost of officers seconded to them

    16. New Finance Arrangements (from 6 April 2006)

    17. Employer Contributions

    18. Transition from old system to new system Extensive consultation with ACPO and other key stakeholders and establishment of Finance Reform Working Group Police Authorities asked to estimate pensions income and expenditure for 2005/6 (as if they had been operating the new system), 2006/7 and 2007/8. Estimates received from PAs were reconciled with national estimates for the year produced by GAD. Ł290m removed from Police Grant Settlement in 2006/7 to be used as Central Government ‘Top-Up’ Grant Ł305m has been removed from Police Grant Settlement in 2007/8 to be used as Central Government ‘Top-Up’ Grant

    19. How is the ‘top up’ grant paid?

    20. Future Reviews Police Authorities can expect early gains from the new system of financing Triennial reviews of the costs of PPS and NPPS Extensive review to commence in 2008 in preparation for 2011/2012.

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