The normal retirement age for special firefighter members of the FPS 2006 is 55. If you choose to retire at 55 or above, your pension is put into immediate payment.
This is known as age retirement.
The age retirement pension formula for a special firefighter member is -
annual pension = 1/45 x pensionable service x final pensionable pay
For example, you are a retained firefighter who has been credited with 14.6047 years of pensionable service and at the date you retire, a regular firefighter in a similar role would have final pensionable pay of £30,000, your pension would be –
14.6047/45 x £30,000 = £9,736.47 a year
Part of your annual pension can be converted to provide a lump sum if you wish – see how much lump sum can I take?
An ill-health pension may be payable at any age.
If you leave FPS 2006 before becoming entitled to payment of age or ill-health retirement benefits you may be awarded a deferred pension. This would be payable from –
- normal benefit age, which is age 60 for FPS 2006 special members, or
- at your request, at any age, on grounds of permanent disability, which stops you from doing regular work - subject to assessment by an independent qualified medical practitioner (IQMP).
The FPS 2006 special members retirement decision tree outlines retirement options for members who have transferred into FPS 2015.