Authority Initiated Early Retirement (AIER) may be awarded in circumstances where the FRA determine that you should be retired in the interests of the economical, effective and efficient management of the service. It is payable to a firefighter who has enough service to qualify for a pension and who has reached age 55 but not age 60.
The basic formula used is -
annual pension = 1/60 x pensionable service x final pensionable pay
For example, a firefighter aged 55 who has completed 10 years' pensionable service and whose final pensionable pay is £27,000 would receive immediate payment of pension of –
10/60 x £27,000 = £4,500 a year
There would be no reduction of the pension to take account of the fact that it is being paid early as the FRA would meet the cost of early payment.
Part of the annual pension can be converted to provide a lump sum – see how much lump sum can I take?