2015 Police Pension Scheme – Opt out Form Please read the notes

2015 Police Pension Scheme – Opt out Form

Please read the notes carefully before deciding whether you wish to opt out of the 2015 Police Pension

Scheme. Please then read and complete this form if appropriate.

This form should be completed by:

Any serving officer not wishing to remain a member of the 2015 Police Pension Scheme can scan and

send the completed form to ssclpensions-auto-enrol[email protected]scl.com

TO BE COMPLETED IN BLOCK CAPITALS

Surname

First Name

Rank

Warrant Number

Date of Birth

Location & Divisional No.

Date of Joining

Nat. Ins. No.

Declaration

I confirm I have read the notes overleaf

I understand that if I opt out I may receive a lower income in retirement

I understand that if I opt out I will lose the right to pension contributions from my employer

I do not wish to remain a member of the Police Pension Scheme.

I understand that

(1) I am giving up my rights to benefits from the 2015 Police Pension Scheme (apart from those

already earned)

(2) If I remain in the Police service I may apply to re-join the 2015 Police Pension Scheme but

acceptance of my application may depend on a medical examination when I apply. I retain my

rights in respect of future Police service to injury benefits in appropriate circumstances.

Signature

Date

Telephone Number

OPTING OUT OF THE POLICE PENSION SCHEME

If you are thinking of choosing to opt out of the 2015 Police Pension Scheme there are a number of

consequences of opting out to bear in mind including;

 If you die while in service but you are not a member because you have opted out, you are not

covered for death in service benefits therefore no death grant is payable. A surviving adult pension

and an eligible child pension may be payable in the event of your death.

 As a Scheme member you receive tax relief on your pension contributions

 If you have a 1987 or 2006 scheme legacy pension, that pension will only be uprated in line with

your final salary up until the point of retirement if you remain in the 2015 scheme.

 If you have a 1987 scheme legacy pension, ongoing double (i.e. weighted) accrual on that scheme’s

benefits, will only continue if you remain in the 2015 scheme.

 If you opt out you will lose entitlement to claim your 1987 or 2006 benefits at your original date.

 If you re-join the Pension Scheme within five calendar years, you are able to link your new 2015

Scheme service with your previous scheme service as if you had always been an active member.

You will be able to take your previous Scheme benefits at the relevant retirement age for an active

member and receive a link to your salary at the point you leave / retire. If you rejoin after the five

year period you will not be entitled to the final salary link and your previous pension will remain

deferred until age 60 in the ‘1987 scheme’ or age 65 in the ‘2006 scheme’.

 A decision to leave the Police Pension Scheme may be made at any time. If you have less than

two years service and have not transferred in benefits from another Scheme, you will be entitled

to a refund of your contributions, less tax, or a transfer to another suitably approved pension

arrangement.

 You cannot transfer your deferred benefits to an alternative pension provider unless it is to a

scheme that does not provide flexible benefits.

Although you may choose to opt out under automatic enrolment your employer may have to put you

back into the pension scheme and start deducting contributions again but they will write to you to tell

you they have done this.

YOU ARE STRONGLY ADVISED TO SEEK INDEPENDENT FINANCIAL ADVICE BEFORE MAKING YOUR

DECISION

What you need to know

The Met (your employer) cannot ask you or force you to opt out of a workplace pension.

If you are asked or forced to opt out you must tell The Pension Regulator;

https://www.thepensionsregulator.gov.uk/en/contact-us/scheme-members-who-to-contact/report-

concerns-about-your-workplace-pension

If you stay opted out of the scheme, your employer will normally put you back into pension saving in

around three years.

If you change your mind, you may be able to opt back in (subject to a medical examination that you

may have to pay the cost of) – contact the MPS Pensions Helpdesk if you want to do this.

If you change your job, your new employer will normally put you back into pension saving straight

away. If you have another job, your other employer might also put you back into pension saving, now

or in the future. This notice only allows you to opt out of pension schemes with The Metropolitan

Police. A separate notice must be filled out and given to any other employer you work for, if you wish

to opt out of that employer’s pension schemes as well.

Equiniti Administering Pensions on behalf of the Metropolitan Police Service