The Police Pensions (Amendment No. 3) Regulations 2012

Amendment to the Police Pensions Regulations 1987

2.—(1) The Police Pensions Regulations 1987(1) are amended as follows.

(2) After regulation B5 (policeman’s deferred pension) insert—

“Early payment of deferred pension

B5A.— (1) Subject to paragraphs (2) and (3), a regular policeman who is entitled to a deferred pension payable, in accordance with regulation B5(4), upon his attaining the age of 60, may elect for immediate payment of that pension:

Provided that no payment shall be made in respect of the period before the officer concerned attains the age of 55 years.

(2) An election under paragraph (1) shall be made by giving written notice to the police pension authority at least one month before the date on which the officer concerned wishes such payment to commence.

(3) Unless paragraph (4) applies, payment of the pension shall be subject to an actuarial reduction calculated by the police pension authority in accordance with tables prepared by the Scheme actuary.

(4) This paragraph applies where—

(a) the regular policeman receives a compensation lump sum on voluntary retirement, in accordance with a determination of the Secretary of State made under regulation 14A of the Police Regulations 2003; and

(b) a sum or sums equal to the value of the actuarial reduction are paid into the police pension fund in accordance with paragraphs (5) to (7) in order to buy out the actuarial reduction.

(5) Should the regular policeman so elect by giving notice in writing, the police pension authority shall pay into the police pension fund the whole or any part of the compensation lump sum that would otherwise be payable to the regular policeman.

(6) If the whole of the compensation lump sum is insufficient to buy out the actuarial reduction, the police pension authority may, in its discretion, pay into the police pension fund the additional amount required to do so.

(7) If the police pension authority decides not to pay the additional amount required to buy out the actuarial reduction, the regular policeman may pay to the police pension authority a sum equal to that additional amount, which the police pension authority shall pay into the police pension fund.

(8) Where a regular policeman who has made an election under paragraph (1) dies, any pension payable in respect of that policeman under Parts C or D shall be calculated as if no such election had been made.”.

(1)

S.I. 1987/257, as amended by S.I. 1988/1339, S.I. 1990/805 S.I. 1996/867, S.I. 2000/1549, S.I. 2001/3888, S.I. 2002/3202, S.I. 1998/577, S.I. 2003/27, S.I. 2003/535, S.I. 2004/1491, S.I. 2004/2354, S.I. 2006/740, S.I. 2006/932, S.I. 2007/1932, S.I. 2008/1887, S.I. 2009/2060, S.I. 2010/431, S.I. 2011/3063, S.I. 2012/640 and S.I. 2012/2811.