Double accrual guarantee
In this section
In the firefighters’ pension scheme 1992 there was a limit to the amount of pension you could build up – this was capped at 40/60.
Do you also have benefits in the firefighters' pension scheme 2015?
When the firefighters' pension scheme 1992 closed, members were moved to the firefighters' pension scheme 2015.
The firefighters' pension scheme 2015 does not offer double accrual. However, this benefit is protected for your firefighters' pension scheme 1992 benefits.
This means that when you retire, your pension from the firefighters' pension scheme 1992 would be calculated including any double accrual that you would have built up, had you not moved to the firefighters' pension scheme 2015.
What is double accrual?
Achieving maximum pension
In firefighters’ pension scheme 1992 there was a limit to the amount of pension you could build up – this was capped at 40/60.
To help you achieve this, if you had been in the scheme for over 20 years you would earn ‘double accrual’. This means that you would earn:
- For years 1 to 20: 1/60 for each year you were a member
- For years 20 and above: 2/60 for each year you were a member
This allowed you to earn the maximum pension within 30 years.
Do you also have benefits in the firefighters' pension scheme 2015?
When the firefighters’ pension scheme 1992 closed, members were moved to the firefighters’ pension scheme 2015.
The firefighters’ pension scheme 2015 does not offer double accrual. However, this benefit is protected for your firefighters’ pension scheme 1992 benefits.
This means that when you retire, your pension from firefighters’ pension scheme 1992 would be calculated including any double accrual that you would have built up, had you not moved to firefighters’ pension scheme 2015.
Example
How it works
Example
Double accrual
Factors
- 22 years’ service in firefighters’ pension scheme 1992 by 31 March 2022 (the date everyone moved to firefighters’ pension scheme 2015)
- 8 years’ service in firefighters’ pension scheme 2015
Total service = 30 years
If you could have stayed in firefighters’ pension scheme 1992, your service would be calculated as:
For years 1 to 20: 1/60 for each year you were a member
= 20 x 1/60 = 20/60
For years 20+: 2/60 for each year you were a member
= 10 (2 years in FPS 1992 and 8 years in FPS 2015) x 2/60 = 20/60
= 20/60 + 20/60
Total = 40/60
Your pension would be calculated based on the actual time you spent in FPS 1992, but taking into account that you would have earnt the maximum pension.
The pension calculation is as follows:
(40/60) x (22/30) x £30,000 = £14,666.67 pension a year.
You would also receive pension from the firefighters' pension scheme 2015 – you can find out more about how that’s calculated in the firefighters' pension scheme 2015 section.