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Joining the Scheme

All new recruits to the Fire Service become members of the Firefighters Pension Scheme 2015 which is a Career Average Revalued Earnings Scheme (CARE).

A CARE scheme pension is calculated using a portion of your Annual Pensionable Pay each year and adding this to your CARE pension pot. The portion used is 1/59.7 and each year the pot is increased by inflation (Average Weekly Earnings index). There is also the option to convert some of your annual pension to give you a tax free lump sum.

Your benefits are based at age 60 but you can access these at 55 with reductions. For more information on the Firefighters Pension Scheme 2015 please see the section on the menu called ’2015 Scheme’.

10 Benefits of Membership

  1. Free money from your employer – your employer shares the cost, and will contribute around twice as much as you do to the Scheme. You do not benefit from that money without participating in the scheme.
  2. Tax free savings – tax relief on all your contributions, even on extra payments you make to top up your benefits.
  3. Increased quality of retirement – start now for a bigger pension on retirement.
  4. No investment risk – a pension based on your pay and length of service.
  5. Protections and security – protections for you in case you have to draw your benefits early through ill health; and protection for your loved ones in the form of pensions for dependents.
  6. Life cover, no medicals required – life cover of 3 years pay.
  7. No hidden fees or charges – you simply contribute a percentage of your pay.
  8. Tax free lump sum – can be taken in addition to a regular pension.
  9. Pensions increased with inflation – the value of your pensions in payment is protected.
  10. Saving for retirement is crucial – maintain your lifestyle in retirement.