POLICE in South Yorkshire could be hit with an £11m a year pensions bombshell after government number-crunchers recalculated the real cost of paying pensions to retired officers.
The recalculation of demands on policing pension funds nationally will create a dilemma for all forces and in South Yorkshire could mean additional costs of £11m a year, if the government insisted the expense should be met locally, rather than from central funds.
Dr Alan Billings, the county’s Police and Crime Commiss-ioner, warned: “The likely impact is very significant and it is one more blow in trying to balance the books for the coming financial year.
“I imagine all the PCCs will be making representations to central government.
“Clearly, it is a sudden additional cost which has come somewhat out of the blue.
“The size of the figure is the sort of thing which could destabilise your financial position very quickly.
“We need some clarity around it, from central government, as quickly as possible,” he said.
The recalculation was made by government actuaries, the experts who calculate the value and expected future value of pension funds, set against the expected costs of paying those who have contributed.
