Optional conversion of continuing pension at retirement into lump sum at a conversion rate offered by the pension scheme.
Commutation factors for the FPS are shown in the table below. The factor is applied to the part of the pension you give up to calculate the amount of the lump sum.
| FPS 1992 | FPS 2006 - standard | FPS 2006 - special | FPS 2015 | |
| Commutation factors | Calculated by the scheme actuary and reviewed regularly | 12:1 | Annex ZA of 2006 regulations | 12:1 |
Annex ZA Firefighters’ Pension Scheme (England) Order 2006 - https://www.legislation.gov.uk/uksi/2015/590/schedule/2/paragraph/4/made