However, if the selected retirement date is before 1/4/2020, the lowest rate of pay increases has been set to 1% (CPI – 1%). When you use the calculator you'll get: You may find it useful to have your most recent Annual Benefit Statement available while you're using the calculator. Unsure if paying off your debts the right thing to do? Scottish Government | Riaghaltas na h-alba | gov-scot. Like Anytime Access you can withdraw at any time, but unlike Anytime Access, if you withdraw before the end of the term you will only get back the amount you invested. With the Protected Growth option, if you withdraw your money other than on the five-year set guarantee points, you may get back less than you have put in. This is always a good starting point as it will then determine any further actions you may need to take in order to fund the retirement … *The value of tax benefits depends on your individual circumstance and tax rates or legislation which could change in the future. a printable copy of your personal illustration. Consider any expenses you may encounter in the next 5 years where you may need to access some of your funds. Our Pension Calculator is designed to help you understand the impact that the changes to Police Pensions could have on your future income when you retire. It is intended illustrative purposes only. The Options ISA is a stocks and shares ISA that gives you four different, tax-efficient options to save lump sums, regular amounts or both. Without it you will experience limited functionality. Police Pension Calculator. JavaScript is required for the best user experience. Please note that the illustration is not a guarantee, nor is the calculator intended to provide you with financial advice. Please note: this is a guide to aid you with your decision but should not be taken as advice. Police Pension Scheme (England and Wales) So, whether you’re looking for a fixed rate, total security, potentially better returns or a combination of all of these, you can get them all with our Options ISA plan. One of the things you might want to do is reduce your monthly outgoings by paying off some, or all of your debts with your retirement funds or savings. © Police Mutual Assurance Society Limited. We use cookies to help your user experience, understand how our website is used, and target promotional activity. Oops! Pension & Commutation Whatever your retirement brings, you'll want to know how much money you're going to have to fund the lifestyle you want and the plans you have in mind. The calculator will give an estimate of the amount you will have built up during the existing pension schemes, either the 1987 Scheme or the 2006 Scheme. What are the key features of the Option ISA? These products are provided by Police Mutual Assurance Society Limited trading as Police Mutual, more information is available on our legal page. You can pick just one option, split your money across several or put money into different options, at different times. This Commutation Slider Tool is designed for officers in the 1987 scheme with full protection and not subject to the Police Pension reforms. The Options ISA is a stocks and shares ISA that gives you four different, tax-efficient options to save lump sums, regular amounts or both.You can pick just one option, split your money across several or put money into different options, at different times..