Employer initiated retirement

New Firefighters' Pension Scheme 2006

If Hampshire Fire and Rescue retires you in the interests of the management of the service, your pension will be paid if:

  • you are between ages 55 and 60 and
  • you have been a member of the NFPS for at least three months or
  • have transferred pension benefits from another scheme into the NFPS 2006

You will receive the pension you have built up so far, and it will not be reduced for early payment. You can choose to exchange (commute) part of your pension to provide a retirement lump sum.

Example

The pension would be calculated as normal, based on your pensionable service and final pay:

1/60 x service x final pay = annual pension

A firefighter age 55 with 10 years pensionable service and final pay of £27,000 would receive:

10/60 x £27,000 = £4,500 pension a year