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Each year, you receive a statement letting you know what benefits you have in the firefighters’ pension scheme and your options at retirement.
Keeping you up to date
Your figures
Each year, you receive an annual benefit statement letting you know the value of your benefits in the firefighters’ pension scheme. If you are eligible for remedy, this will also include details of your options at retirement – known as a remediable service statement, or a combined annual benefit statement/remediable service statement (ABS/RSS).
The information you receive will help you consider all aspects such as:
- How much pension you could receive
- The value of any lump sum
- If you might need to make or receive a payment relating to the contribution rate in the scheme you select
- Any tax and interest implications
- Details of how transfers in are treated
You can find out more in the contribution adjustments section.
At retirement
When to make a decision
You will also be provided with a remediable service statement at retirement when you can make your decision. There are a number of factors that may impact when you receive this remediable service statement including:
- How long in advance of retirement you have informed your fire and rescue authority of your plans;
- The availability of the data from your fire and rescue authority; and
- Whether any calculations may need to be carried out manually.
An understanding your remediable service statement video is available to help you understand your remediable service statement.
When you retire, if you don’t make a choice, your scheme manager will decide for you based on the figures in your remediable service statement.