Revised pension payments: FOI release

Information requested

1. I respectfully request to know if Police Pension Revision payments to account for the 2024 - 4.75% pay rise accounts for interest that would have been accumulated should said payments have been made on time?

2. Backdated pension charges under the remedial system were subject to an interest charge. If Revision payments do not include such an interest payment, why not?

Response

1. The revised pension payments resulting from the retrospective application of the 2024-25 Police Scotland pay deal, agreed on 6 January 2025 and backdated to 1 April 2024 do not include any amounts representing interest.

2. Relevant police pension scheme regulations do not provide for the application of interest under these circumstances. Whereas, Regulation 56 of the Police Pensions (Remediable Service) (Scotland) Regulations 2023 requires the scheme manager to calculate interest on relevant amounts in line with directions 14 and 15 of The Public Service Pensions (Exercise of Powers, Compensation and Information) Directions 2022.

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