Contribute to your pension

Contributions

You contribute a percentage of your pensionable pay towards your pension. Your contribution rate is determined by your whole-time pensionable pay for the role that you hold even if you are part time or are a retained fire-fighter.

2018/19 and 2019/20

These rates are applicable for 2 years from 1 April 2018.

Pensionable pay range Contribution rate
Up to £15,609 8.50%
£15,609.01 to £21,852 9.40%
£21,852.01 to £31,218 10.40%
£31,218.01 to £41,624 10.90%
£41,624.01 to £52,030 11.20%
£52,030.01 to £62,436 11.30%
£62,436.01 to £104,060 11.70%
£104,060.01 to £124,872 12.10%
£124,872.01 or more 12.50%

Pension contributions receive tax relief which means that the amount of your pay that is assessed for income tax is after the deduction of any pension contributions.

Pension build up

Your 2006 Fire Pension Scheme is based on your whole time equivalent final year average pensionable pay and your pensionable service.

For each year of service (maximum 40 years), you accrue 1/60th of your final year average pensionable pay.

Your final year average pensionable pay is an average of the pensionable pay that you have received in the 365 days to date of leaving.

The maximum service that you can accrue is 40 years. This will provide a maximum 40/60th pension.

Example – How 2006 Fire Pension is calculated

Final year pensionable pay = £30,000

Retirement at age 60

Pensionable service at age 60 = 27 years

Total annual pension = 27 years x 1/60 x £30,000 = £13,500

If you work part time, your final year pensionable pay is still based on the whole time equivalent, but your service builds up as a proportion of full time service.

Example – How 2006 Fire Pension is calculated with some part time service

Final year pensionable pay = £30,000

Retirement at age 60

Calendar service at age 60 = 27 years

Worked 50% of full time for 5 years

Pensionable service = 24 years 183 days

Total annual pension =  24 years 183 days x 1/60 x £30,000 = £12,250.68

Pay more into your pension

If you are not able to achieve 40 years pensionable service by age 60, you may be able to purchase additional 60ths to count towards your pension.

The calculation uses factors which depend on your age next birthday and the number of 60ths you wish to purchase. The factors increase each year, meaning that the older you are the more expensive it becomes.

If you would like more information about this option, please contact Hampshire Pension Services. You will need to provide the following information to enable a quote to be sent to you.

  • How many additional 60ths you wish to purchase or
  • How much you wish to pay per month as a fixed amount or
  • How much you wish to pay per month as a percentage of your pensionable pay
Transfer in another pension

The 2006 Fire Pension Scheme closed to new recruits on 31 March 2015 and as such it is no longer possible to transfer other pension rights into this scheme.

The only transfer that is possible is if you are transferring from another Fire & Rescue Authority and you are continuing your membership of the 2006 Fire Pension Scheme.

If you have previous membership of the Fire Pension Schemes with any Fire & Rescue Authority, complete the membership option form and return it to Hampshire Pension Services.