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