In 2015 new laws introduced a new pension scheme for Firefighters– the Firefighters Pension Scheme 2015 (FPS 2015). These laws included protections for those closest to retirement. It enabled them to stay in their legacy scheme for all, or part of the remedy period (between April 2015 and March 2022). This policy was referred to as “transitional protection”.
The courts determined that the protections given to members were age discriminatory following a legal challenge known as Sargeant.
The Government is progressing legislation in order to enact this remedy. The FPS will be required to implement scheme level changes. This will include:-
- Moving all members to the 2015 FPS with effect from 1st April 2022 – this will mean that members will continue to accrue benefits under the 2015 scheme with effect from this date;
- Placing all eligible members back onto their legacy scheme for the remedy period (i.e. 1st April 2015 – 31st March 2022) – in order to achieve this changes to pension regulations, systems and processes are required and therefore the Government has set a deadline of October 2023 for the completion of this work;
The national FPS website has a dedicated area including FAQs and a fact checker on the remedy proposals to help members understand these changes.
Peninsula Pensions will be contacting scheme members, as the regulatory changes occur, regarding changes to their pension . Our preferred approach would be to do this via our Member Self Service portal.
If you are not already signed up to use MSS, please go to the MSS area on the Peninsula Pensions website: https://members.peninsulapensions.org.uk/ to do so. Once registered you will be sent an activation key which will allow you to complete the set up.