The Police Pensions (Amendment No. 3) Regulations 2012

EXPLANATORY NOTE

(This note is not part of the Regulations)

The Police Pensions Regulations 1987 (“the 1987 Regulations”) and the Police Pensions Regulations 2006 (“the 2006 Regulations”) provide for two defined benefits pension schemes for members of police forces in England and Wales.

These Regulations amend the 1987 Regulations in order to implement (in part) recommendation 58 in the Independent Review of Police Officer and Staff Remuneration and Conditions: Part 1 Report(1) in relation to voluntary redundancy.

Regulation 2 of these Regulations amends the 1987 Regulations by inserting new provision allowing a police officer to elect to receive a deferred pension from the age of 55, rather than the current age of 60. A pension paid in these circumstances will be actuarially reduced to reflect the longer period over which it is paid. A police officer receiving a compensation lump sum on voluntary early retirement will be able to use the lump sum to buy out the actuarial reduction in the pension, and if the lump sum is insufficient to do so, the police pension authority or the police officer will be able to make up the shortfall. No such amendment is necessary in respect of the 2006 Regulations.

Further provision to implement the recommendation is made in amendments to the Police Regulations 2003(2) and to the determinations made by the Secretary of State under those Regulations.

These Regulations also amend the 2006 Regulations so as to ensure compliance with the requirements prescribed by the Pensions Act 2008 and the Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010 (“the 2010 Regulations”) with regard to arrangements the employer must make in respect of automatic enrolment and re-enrolment of a job-holder in a qualifying scheme. The amendments also ensure the Scheme complies with other arrangements prescribed by the Pensions Act 2008 and the 2010 Regulations by which a jobholder or worker may join and leave a qualifying pension scheme.

A full impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

(1)

Cm. 8024.

(2)

S.I. 2003/527.