Those with a Police Pension are witnessing legislative amendments and austerity measure which are eating into their pension funds, and subsequently casting a shadow over any plans for retirement.
The public sector pension pot is severely in deficit, and as a result the Treasury have been forced to fast track plans to further reduce benefits and to extend the retirement age.
Also, as of April 2015, those who have a Police Pension will no longer be able to transfer their savings out of the fund. It will be forever kept in the deficit-laden public sector pot, with no guarantee of how much will be made available upon retirement, or when it will be made available at all.
For expatriates, there is still time to consider an alternative option which offers security, flexibility and a deficit-free pot which the Government will be unable to plunder to try and plug the gaping holes in the country’s economy. But there are only seven months to go before the door will be closed forever.
A QROPS provides an array of benefits which could never be matched by the UK pension market, and the freedom offered by such a scheme offers the retirement reassurance currently missing in all UK public sector funds.