Changing investment option(s)

You can change your investment option(s) online by logging in to your account. If you prefer, you can download an investment choice form, fill it in and send it to Mercer.

We will action your change by redeeming units in your existing investment option and issuing units in the new investment option. You won’t be able to see your new investment choice when you log in to your account until we have processed the change. This could take a few days. The unit prices for any given business day are not received until the end of the following business day. When the unit prices become available, we will process your request as soon as possible. Once your request is processed, the change will appear online.

You can change your investment strategy at any time. We suggest you review your investment choice from time to time to make sure it’s suitable. If it is, remain patient, think long term and don’t get distracted by short-term volatility. Moving into a more conservative option when markets are down makes paper losses real and means you risk missing out on the subsequent rebound when markets recover. Switching to a higher-risk option because markets are up could expose you to a level of risk you find uncomfortable.

Change standard employee contributions

If you are a recruit or a standard constabulary entrant, you contribute 7.5% of your salary to your member's account by default. However, you make elect to change this standard employee contribution rate at any time. You can choose from one of the following options: 0%, 3.0%, 5.0% or 7.5%. Visit the MyPolice Employee Self Service portal and look for the 'Superannuation' tab under 'My Services'. Whichever option you choose, Police will contribute 15.2% of salary on your behalf (before tax).

Starting or changing voluntary employee contributions

We cannot accept lump sum contributions. This is in order to comply with the provisions of the scheme’s exemption from the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

You can, however, make voluntary employee contributions in addition to standard employee contributions as regular deductions from your pay. Voluntary employee contributions must be between 1% and 10% of salary in increments of 0.5%. Police will not match any voluntary employee contributions you make.

Voluntary employee contributions are credited to your member’s account and are subject to the same rules for in-service withdrawals as your standard employee contributions.

Constabulary, recruits and special entrants

You can start making or change voluntary employee contributions online via the MyPolice Employee Self Service portal. Look for the 'Superannuation' tab under 'My Services'.

Optional entrants and savings contributors

You can start or change voluntary employee contributions (optional entrants) or change your contribution rate (savings contributors) by completing the vary contributions form and returning it to payroll.

Leaving the scheme while in service

You cannot leave the scheme while in service if you are a recruit or a standard constabulary entrant. You may only pause contributions if you are on leave without pay (see below).

You may choose to withdraw from the scheme while you are in service if you belong to another membership category. The benefit payable will be your leaving benefit.

Pausing standard employee contributions

If you are a recruit or a standard constabulary entrant, you can only pause standard employee contributions if you are on leave without pay.

If you belong to another membership category, you may pause standard contributions for a period agreed between you and your employer. This is only an option if, in the opinion of Police as your employer, you are suffering hardship. We also need to give our consent.

If you pause your standard employee contributions, employer contributions (if any) will also be suspended. You may also pause standard employee contributions if you are on leave without pay.