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Police Mutual Financial Wellness. Saving and Investment. Pensions. Where are you now?. Managing your Debt. Borrowing. Protecting what matters. Post 2006 Police Officer Pension scheme. 7. 6. 5. 4. 3. 2. 14. 1. 13. 12. 11. 10. 9. 8. 21. 20. 19. 18. 17. 28. 16. 27. 15. - PowerPoint PPT Presentation
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Police Mutual 2010
Police Mutual Financial Wellness
Where are you now?
Where are you now?Managing
your DebtManaging your Debt
Protecting what
matters
Protecting what
matters
BorrowingBorrowing
PensionsPensionsSaving and InvestmentSaving and Investment
Post 2006
Police Officer Pension scheme
Police Mutual 2010
Types Of Pension
Start Time End
Start Time End
Final salary
Money purchase
= Service×Final
pensionFinal
pension ×
PensionannuityPensionannuity=
Police Mutual 2010
Understanding what’s pensionable
Basic Salary £36’519
Overtime £2’400
Competency Threshold £1’212
£40’131
£37’731
Police Mutual 2010
How Pensions Work
Pensionbenefits
Pensionbenefits
Police pension Private pension
9.5%
20%
30%
Police Mutual 2010
Pension Example
Final salary1/70× ×1/70× ×35
=
Lump sum
AnnualpensionAnnualpension4 × =
Police Mutual 2010
Pension Example
Final salary
1/70× × =
Lump sum
AnnualpensionAnnualpension4 × =
25
Police Mutual 2010
PensionPension
Pensions benefits
BenefitsBenefits
Police Mutual 2010
www.pmas.co.uk
www.moneymadeclear.org.uk
www.homeoffice.gov.uk/police/police-pensions/
Further information