Question to the Home Office:
To ask the Secretary of State for the Home Department, what assessment she has made of the potential impact of the Public Service Pensions Remedy (McCloud remedy) on police officers who are transitioning between the 1987 Police Pension Scheme and the 2015 Career Average Revalued Earnings scheme; and what steps her Department is taking to ensure that such officers are not subject to financial penalties when retiring at their originally expected retirement point.
Eligible members of the police pension scheme affected by the McCloud remedy will have the opportunity to make an individual choice at retirement based on the benefits they wish to receive. They will be provided with personalised benefits information to support the decision. This is also the approach for members of other reformed public service pension schemes who are eligible for the McCloud Remedy.
As part of the public service pension scheme reforms, the 2015 police pension scheme introduced valuable protections for the benefits that members have accrued in their legacy schemes (including the 1987 pension scheme): protecting the point at which they can draw those legacy benefits, maintaining a link to their final salary against their pensionable service and where applicable, a link to the enhanced accrual rate.