Police Pension Scheme 2006 (PPS 2006)
Increasing Your Benefits
You are strongly recommended to seek independent financial advice before taking any action. Your police authority is not empowered to give financial advice to you.
HM Revenue and Customs place overall limits on pension contributions which are tax-deductible, but these are very generous. The current position is that, unless you are a very high earner you are normally able to pay up to the whole of your taxable earnings in a tax year in pension contributions and have the whole amount allowable against tax – although there may be limitations in any year in which your PPS benefit entitlement has increased substantially (for example, if you have been promoted or have taken up a more senior appointment).
Added Years contracts will begin from your next birthday and will cease at either your 55th or 60th birthday depending on your contract.
You will continue to pay your additional contributions even if you transition to PPS 2015.
Before You Apply:
If you do not meet the criteria above you will NOT be eligible to purchase Added Years
Added Years contracts are a long term commitment. If you do take out a contract it CANNOT be cancelled and will continue until your Normal Retirement Date.