Further commutation update

Information from the Secretary, Northumbria NARPO

 Latest update regarding the changes to commutation factor

For those interested in the Government's Actuaries Department's attempts to right a dis-service to those who were paid short on their lump sum - the following best describes the situation as it stands.

A word of warning - the link is to a document prepared by Mouchel, a company which serves a few forces such as West Yorkshire - we are yet to see a similar response from Northumbria Police who, as of April, deal with pensions 'in-house'.

The calculations are eclectic but can give an idea to those involved of the amounts due back. There are some 600 in Northumbria who are eligible for payments of varying amounts.

The Secretary knows nothing else apart from these updates. Northumbria Police pension administrators will inform him when they are in a position to start making 'offers' to individuals. Once he has any additional information about the process  commencing it will be circulated to members. In the meanwhile, emails asking for further information will only result in frustration and disappointment as there is no other relevant information available.

 

Use this link LATEST NEWS to view an update provide by Mouchel who administer a number of police pensions for forces around the country. Please note Mouchel do not administer all force police pensions.

GAD ISSUE COMMUTATION FACTORS FOR 2001 and 2004

Following the determination of the Pensions Ombudsman in Milne v the Government Actuary’s Department (GAD), this document, provided by GAD, includes tables of factors to be used in calculating redress and detailed guidance for scheme administrators to aid them in calculating the amounts owed to individuals. :

Use this link to view the document NEW FACTORS GAD DOCUMENT

The document confirms than men who retired on or after 1/12/2001 will receive additional amounts, Unfortunately it confirms that only women who retired on or after 1/12/2004 will receive additional amounts - this is because the factors in
the new 2001 tables are less than the factors that applied to women post 1998.

- See more at: http://www.narpo.org/index.php/pensions/police-pensions.html#sthash.9oI9SW6a.dpuf