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Taxation of Commuted Lump Sum We have been contacted by several members and some branch officials about a proposal by some forces that former police officers who were employed by police forces subsequent to their retirement may be liable to pay tax on their commuted lump sum. Several forces have publicised this proposal and have created significant alarm in those who they have said may be affected. The proposal refers specifically to those who have recently retired as police officers and been re-employed by forces with less than a one month break between the former officer’s date of retirement and the date of employment by the force. We are not convinced that this is a correct interpretation of the relevant legislation and we are urgently seeking clarification of this issue, initially from the Home Office. In order to advise our members on this matter we have sought some advice from our tax specialist. Whilst they are not in a position to give detailed advice on the substantive issue, they have clearly indicated that if such a tax liability does exist and as it is clear that your employer knew your personal circumstances they could be liable to either pay the tax or compensate you by the tax amount, as forces should have been aware of the consequences of such employment and should have clearly indicated those consequences to those they have employed in this way. We have now received further advice on these issues please use the links below:
Whilst we are unable to provide any tax advice to individuals, the below links to the technical pages of the HMRC website do contain further useful explanations of the current situation: Protected Pension Age under 50 Protected Pension Age under 50 Employment after taking benefits Loss of Protection after Employment Age 50 - 54 Restriction on Employment Age 50 - 54 Any members who feel they may be affected by this, should consider taking their own tax advice. One of NARPO's member service providers is TWD Accountants who specialise in tax matters and their contact details can be found on the Member Services page of the website.
SEPTEMBER CPI 5.2%
Petition on the switch from RPI to CPI
LORD HUTTONS REVIEW OF PUBLIC SECTOR PENSIONS TO VIEW USE THE LINKS BELOW.
INCORRECT TAX CODES Further to media reports, HMRC have now admitted that due to a new system of matching employer and National Insurance data, a number of incorrect tax codes have been issued for the 2010/2011 tax year. The errors are thought to mostly affect those who are claiming their State Pension for the first time in 2009/10, as well as married couples and civil partners aged 76 and over. If you are concerned about the accuracy of your tax code, you should call HMRC on 0845 3000 627 For more information on tax issues and how to challenge an HMRC decision use the links below: FREE TAX ADVICE FOR THOSE WITH LOW INCOMES HOW TO APPEAL AN HMRC DECISION PAYE TAX CALCULATIONS CHECK AND CHALLENGE EMPLOYER ERRORS AND UNDERPAID PAYE TAX
HOUSE OF COMMONS DOCUMENT RE PENSION UPRATING BACKGROUND TO PENSION UPDATING
IMPORTANT UPDATE ON IMPROVING YOUR BASIC STATE PENSION In the May NARPO News Benefit update an article appeared in relation to the above. Our Benefits advisor's have now researched the matter fully and have provided a further update in relation to the uprating before a spouse/civil partner reaches state retirtement age.
Police Pension Advice NARPO Headquarters at Wakefield is always available to answer any Police Pension enquiry. Either the Chief Executive or the Deputy Chief Executive can provide personal advice on a whole range of pension issues during normal office hours. Written and Email enquiries can also be catered for; all we ask is that you include your NARPO membership number with your request. You will also need to identify the Police Pension scheme applicable to you. Although we recognise that currently the vast majority of our members will be subject to the provisions of the 1987 Regulations, a new Police Pension scheme was introduced for new recruits to the service from April 2006. These new Regulations are only applicable to new recruits and to those officers serving in April 2006 who elected to transfer to the new Police Pension scheme following its introduction. We have included links to explanatory booklets on both these schemes below. Medical Pensions and Injury Awards are two areas that have experienced an unprecedented increase in growth of enquiries. Throughout the 43 Police Forces in England and Wales a much more robust and systematic approach to Medical Pensions and Injury Award review continues to develop. NARPO accepts this new approach, as long as it is carried out fairly and with compassion; is based on sound medical evidence and is conducted within the guideline of the relevant Police Regulations. To fall in line with the Government’s ‘A Day’ proposals, intended to simplify pension provisions across the board, in April 2006 the Injury Award provisions were then included in a separate statutory instrument, The Police (Injury Benefit) Regulations 2006. These Regulations are applicable to all current and former police officers irrespective of the Police Pension scheme to which they are a member. We have included a link to this legislation and a further link to advice on the medical appeals procedure applicable under Police Pension legislation.
LINKS TO USEFUL POLICE PENSION INFORMATION Home Office Police Pensions and Retirement Policy Police Negotiating Board Circulars Find details of Your Police Pension Administrator here. PENSIONERS LIVING ABROAD ADVICE
Civil Service Pensioners Alliance National Pensioners Convention AGE (European Older People's Platform)
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| Last Updated on Monday, 20 February 2012 12:13 |
