It is for Chief Officers and Police and Crime Commissioners (PCCs) to decide whether to run a Voluntary Exit Scheme in their force and to determine, within the terms outlined below, what criteria for eligibility to apply are appropriate. If a scheme is run, it is for those officers who fall within the criteria of those eligible to apply to decide whether the terms of the offer are right for them. Only if both sides agree to the terms and are satisfied that they are suitable should the exit proceed.
The Association of Chief Police Officers (ACPO) has produced guidance for forces considering running a Voluntary Exit Scheme. The determination setting out the level of compensation is annexed to this Circular. For those below their pension age on their final day in service: 1 month’s pay for every year of service up to a maximum of 21 months’ pay. For those above their pension age but with less than thirty years’ service on their final day in service: 1 month’s pay for every year of service up to a maximum of 6 months’ pay. No compensation payments are available to those who have built up full pensionable service (30 years for Police Pension Scheme 1987, 35 years for New Police Pension Scheme 2006).
For more detail on the level of compensation and the rate at which it accrues, follow the below link