Age retirement

An age retirement pension is payable to a firefighter who has enough service to qualify for a pension and who retires at or after age 60. The basic formula used is -

annual pension = 1/60 x pensionable service x final pensionable pay

For example, if you retire at age 60, with 40 years' pensionable service and final pensionable pay of £30,000, your pension would be –

40/60 x £30,000 = £20,000 a year

For retained firefighters, the formula is the same and will be based on the service credit earned in the scheme (worked out by dividing actual earnings by reference pay) and the reference pay (the pay that would be paid to a whole-time regular firefighter employed in a similar role and with similar qualifying service) at the date of retirement.

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 –

14.6047/60 x £30,000 = £7,302.35 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?


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