Revised commutation factors for the Police Pension Scheme (PPS) 1987, which have just been issued by the Government Actuary’s Department (GAD). The new factors will apply to any member who retires on or after 20 April 2011.
The factors for all ages have been increased. However, please note that, as some of the revised commutation factors are now higher than 20:1, there may be tax implications for some members.
I would recommend members seek independent financial advice on their own particular circumstances.
Disappointingly we were only informed of these changes by the Home Office yesterday. I understand that they will shortly promulgate a Home Office Circular on the revised commutation factors, which I will ensure is circulated.