Firefighters Pension Schemes

2015 Scheme

FIREFIGHTERS PENSION SCHEME (CARE) 2015 – FPS 2015

2015 Fire Scheme Members Presentation

(Please also see Forms and Documents Section)

  • The 2015 scheme is a career average scheme from 1 April 2015. FPS 1992 and FPS 2006 are final salary schemes. FPS 2015 pensions will be worked out each scheme year, over the course of your career and revalued to ensure it keeps up with the cost of living
  • Every year in the new scheme you will get a pension that’s equal to a 59.7th of your pay added to your pension account
  • The Normal Retirement Age for membership built up from 1 April 2015 is age 60 (the same as in the 2006 Scheme)
  • Partial retirement is possible from age 55
  • Your deferred pension age is equal to your State Pension Age, with a minimum of age 65
  • Members re-joining after a deferment of less than 5 years can link new service with previous service as if they had always been an active member
  • Guaranteed defined benefit scheme
  • Tax free contributions
  • Option to take tax free cash lump sum
  • Index-linked pensions
  • Built in Ill-health benefits / life cover
  • Pension for dependants
  • Employer pays contributions

Employee contribution rates in fire service pension schemes for 2015-16

2015 Firefighters’ Pension Scheme Pensionable pay band 2015-16 rate
£0 and up to £27,000 10.0%
Over £27,000 and up to £50,000 12.2%
Over £50,000 and up to £142,500 13.5%
Over £142,500 14.5%

 

All Wholetime Firefighters should now have received a statement confirming the current value of  pension benefits and where they fall under the protections with regards to the FPS 2015 scheme.  We have now arranged the opportunity for all firefighters to attend a 2015 Fire Scheme Members Presentation giving a general overview of the 2015 scheme.  An email has been issued by Fire HQ Pay and Conditions with the various venues/dates and booking links.

 

6th August 2015 (update)

Statements are currently being issued to all members of Firefighter Pension Schemes that have transferred/are due to transfer to the 2015 Firefighters Pension Scheme at a future date with projected figures.

 

Please see below for further information relating to the FPS 2015:

 

NEW MEMBER (ON OR AFTER 1/4/15 WITH NO PREVIOUS SERVICE)

2015 scheme member only retirement decision tree
PROTECTED MEMBER

Understanding the pension reforms –  protected member 1992

Understanding the pension reforms – protected member 2006 scheme

 

UNPROTECTED MEMBER (TRANSFERRING 1 APRIL 2015)

Understanding the pension reforms – unprotected member 1992

Understanding the pension reforms – unprotected member 2006

Modified  Retained (RDS) member retirement decision tree

1992 member retirement decision tree

2006 member retirement decision tree

 

TAPER MEMBER (TAPERED PROTECTION – due to transfer to FPS 2015 after 1 April 2015)

taper protection table 1992 and special modified (RDS) members

Understanding the pension reforms – tapered protection member in 1992 scheme

Modified retained (RDS) member retirement decision tree

1992 member retirement decision tree

taper protection table 2006 members

Understanding the pension reforms – taperered protection member in 2006 scheme

2006  member retirement decision tree

 

OTHER LINKS TO INFORMATION RELATING TO FPS 2015:

FIREFIGHTERS PENSION SCHEME REFORMS

NEW SCHEME 2015 FINAL AGREEMENT OF PROPOSALS

CONSULTATION RESPONSE JUNE 2013

Scheme Calculators based on above proposals