The Police Pension Scheme 2015
Serving police officers in England and Wales are members of the Police Pension Scheme 2015, a Career Average Revalued Earnings (CARE) defined benefit scheme. Each year you accrue a pension worth 1/55.3rd of pensionable pay, and the running total is revalued each year in line with average weekly earnings while you are an active member — a stronger revaluation than CPI in many years. Officer contributions are tiered, typically between 12.44% and 13.78% of pay, with the employer contributing around 31% on top.
Following the McCloud remedy, officers who were moved between the legacy 1987/2006 schemes and the 2015 scheme have had their pensionable service for the remedy period reinstated in their legacy scheme, with a choice of benefits to be made around retirement. This is a complex area, so check your remedy statement carefully.
Retirement age and early access
The 2015 scheme has a normal pension age linked to the State Pension age (currently 67), which is later than the legacy schemes many officers were used to. You can retire from age 55 with an actuarial reduction, but bridging the gap to State Pension age is exactly where a private pot helps.
Building a top-up pot
| Top-up option | Cost (2026) | Best for |
|---|---|---|
| Police AVC (Scottish Widows/Prudential) | ~0.30–0.55% fund charge | Payroll tax relief, simplicity |
| Added Pension | Buys extra guaranteed pension | More inflation-linked income |
| Vanguard SIPP | 0.15% platform fee | Lowest-cost bridge-to-retirement pot |
| AJ Bell SIPP | 0.25% platform fee | Wider investment choice |
Practical tips for officers
- Do not opt out of the scheme to boost take-home pay — the ~31% employer contribution is irreplaceable.
- Use a SIPP or AVC to build a pot you can draw from 55 to bridge to your 2015 scheme pension and State Pension.
- The annual allowance is £60,000 for 2026/27; long-serving officers with large pay rises should check their pension input.
- The full new State Pension of £11,973 a year is payable on top of your police pension.
Ill-health and survivor benefits
One feature that makes the police pension especially valuable is its ill-health retirement provision. Officers forced to retire through injury or illness can receive enhanced benefits, with two tiers depending on severity — a protection no personal pension offers. The scheme also provides survivor pensions for spouses, civil partners and, in many cases, eligible children, plus a lump sum death-in-service payment. These guarantees are a major reason officers should think very carefully before reducing their scheme membership; replacing equivalent life and income protection privately would be extremely expensive.
Second careers after policing
Many officers leave the service in their fifties and start a second career. If you take up employment afterwards, you may be auto-enrolled into a new workplace pension, building a separate pot on top of your police pension. The self-employed or those setting up a business should use a SIPP, and any limited company can make employer contributions efficiently. Coordinating your police pension, any second-career pension and the State Pension is where a financial adviser adds real value, ensuring you do not breach the annual allowance and that your retirement income is tax-efficient across all sources.
Verdict
Stay in the Police Pension Scheme 2015 — its guaranteed, earnings-revalued benefit and high employer contribution make it far better than any private alternative. Because the normal pension age is now linked to State Pension age, the smart move is to build a separate Vanguard or AJ Bell SIPP (or police AVCs) specifically to fund early retirement from 55. Given McCloud remedy complexity, regulated advice is worthwhile near retirement.
Related reading: best pension UK, DB vs DC pensions, and best SIPP providers.