Additional notes for active members of the FPS 2006

These notes accompany your 2023 active benefit statement.
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Age discrimination court case

You can find details of this case on our website at: https://www.hants.gov.uk/hampshire-services/pensions/fire-rescue/all-schemes/mccloud-sargeant-age-discrimination

Please be assured that if you are affected by the remedy for this case then Pension Services will contact you.

When can I take my benefits?

The information provided in this statement is based on you leaving active membership the day before the Normal Pension Age (NPA). If you are due to move to the 2015 scheme, your benefits are payable in full without reductions from your 60th birthday. However, it is possible to take your 2006 benefits from age 55 with reductions.

If you leave the 2006 scheme before benefits are payable, your NPA will change to age 65 for your 2006 scheme benefits and become the equivalent of your state pension age for your 2015 scheme benefits.

When you retire you will be asked to make a separate decision for each set of benefits (if applicable); one for those held in the 2006 scheme, and another for those held in the 2015 scheme.

This pension cannot be paid until you have left service.

If you take your pension before your NPA, reductions may be applied to your pension. If you take your pension after your NPA, increases will be applied. At any time, the Government may change the factors and methodology used to calculate the reductions and increases which may result in a corresponding change to the pension you are paid at retirement.

What options do I have when I take my pension?

When you take your pension you will have the option to exchange some of your pension for a tax free lump sum. We have shown the benefits based on not giving up annual pension and on giving up the maximum pension possible.

Partner's pension

If you have a spouse or civil partner they automatically qualify to receive a pension if you die in service. This is a scheme benefit that is paid to surviving partners and will not reduce or affect your pension even if you do not have a partner.

If you have a partner and meet certain conditions, your partner may be eligible for a pension even though you are not married or in a civil partnership. You cannot nominate anyone else to receive a partner's pension.

You can use a nomination of cohabiting partner form, available from our website www.hants.gov.uk/pensions, if you are not married or in a civil partnership and wish to nominate a cohabiting partner.

A surviving partner's pension is shown if our records indicate you are in a partnership. This figure is only for illustration purposes and the actual amount paid may differ from the one shown depending on your circumstances and on the regulations that apply when a pension becomes payable. For example, if you are currently married, but subsequently re-marry after you retire, your new spouse may not be entitled to as much pension as your original spouse was.

Your dependent children may also be eligible to receive a pension if you die in service and they meet certain conditions. Please see our website for more information.

Deductions from your benefits - Pension sharing order

The amount of surviving partner's pension shown includes all benefits due from your membership of the scheme, including any additional contributions which bought additional survivor's benefits, but will exclude any deductions due to a pension sharing order.

Death grant lump sum

If you die while contributing to the scheme, a death grant lump sum will be payable.

The distribution of this is made at the absolute discretion of the Fire Authority, however, you can express a wish for a person(s) or organisation(s) to receive this.

It can be paid directly to a beneficiary and therefore would not be part of your estate or subject to inheritance tax.

You can provide a nomination or update an existing one on the Member Portal. Alternatively, you can complete a Death grant expression of wish form available from our website.

Your pensionable pay

Your pensionable pay was provided by your employer. If you do not agree with the amount shown on your statement, please contact your employer.

Lifetime Allowance

The LTA applies to the value of your combined UK registered pension schemes and some overseas schemes; the value shown relates to this pension.

Most people's benefits will not exceed the LTA, but we need to provide this information to everyone.

The information shown here is not a transfer value. To obtain a transfer value, please complete a cash equivalent transfer value form, available from our website.

The value shown is based on the pension benefits on this statement only.

Annual Allowance

HM Revenue and Customs sets an annual allowance, which is the amount by which your benefits can increase in a year without being subject to tax. The standard annual allowance is currently £40,000. If you have exceeded the standard annual allowance limit in the year you will receive a Pension Savings Statement by 6 October 2022.

A tapered annual allowance may apply for people with adjusted income of £150,000 and over. If you think this applies to you, please contact us.

You can find more information about annual allowance on our website.

Previous Years' Annual Benefit Statement Notes