Making changes

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 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 crystallises your losses 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.

Starting or changing voluntary 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 contributions in addition to the minimum contributions as regular deductions from your pay. You can nominate a percentage of salary of 1% or more. However, the maximum amount of voluntary contributions must not exceed 10% of your salary. Police will not match any additional voluntary contributions you make.

Voluntary contributions are credited to your member’s account and are subject to the same rules for in-service withdrawals as your regular member contributions (see Partial withdrawals and in-service benefit).

Constabulary, recruits and special entrants

You can start making or change additional voluntary contributions by completing the Voluntary contributions form and returning it to Payroll.

Optional entrants and savings contributors

You can start making or change additional voluntary 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 standard constabulary entrant or recruit. You may be able to suspend contributions in the circumstances outlined 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.

Suspending your contributions

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

If you belong to another membership category, you may suspend your 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 your contributions are suspended, employer contributions (if any) will also be suspended. You may also suspend contributions if you are on leave without pay.