If you do not want to be a member of the FPS you can opt out at any time by giving a signed, written notice to the fire and rescue authority.
If the notice is in electronic format, you must include a statement confirming that you personally submitted the notice.
The notice would take effect from the start of the following pay period. If you opt out, this will be in respect of the whole Scheme; you cannot, for example, choose to opt out of just the Additional Pension Benefit (APB) provision.
If you opt out you would have a choice of:
- a transfer of accrued pension rights to another pension arrangement (see Transferring pension out page), or
- a deferred pension (your pension is in effect frozen)
You would cease to have any further cover under the FPS2006 (other than that provided by any deferred pension). You would, however, continue to be covered by the provisions of the Firefighters’ Compensation Scheme in the event of a qualifying injury.
If you subsequently change your mind and wish to rejoin the FPS you may do so, provided you satisfy the membership conditions at that time. Your written, signed election to rejoin would take effect from the start of the following pay period.
Also, under “automatic enrolment” requirements, the authority will have to periodically re-enrol optants-out back into a pension scheme. (You would have the right to opt out again if you wish.)
Seek independent financial advice if you are thinking about opting out of the FPS.