Taper protected members of the 2006 Scheme for Special Members

How do I know if I am taper protected?

You will be taper protected if you are a special firefighter member of the Firefighters’ Pension Scheme 2006 for Special Members (FPS 2006 SPECIAL) and were born between 2 April 1967 and 1 April 1971.

What does that mean for me?

You will have a taper protection date which is personal to you. At the taper date, you will move across to the Firefighters’ Pension Scheme 2015 (FPS 2015). Your existing modified 2006 scheme pension rights will not transfer with you, and they will remain fully protected in the 2006 scheme. If your taper protection date falls after you choose to retire, you will not move across to the 2015 scheme.

When can I access my pension?

Unless you retire before transferring across to the 2015 scheme, you will have pension rights in both the 2006 and 2015 schemes. This means that you will have a ‘two part’ pension.

Part 1 – The first part of your pension remains fully protected in the 2006 scheme and can be taken, on retirement, from age 55. Your modified 2006 scheme pension will still be calculated on your ‘final salary’ at retirement and you will continue to have access to the same commutation rights for your modified 2006 scheme pension.

Part 2 – The second part of your pension is in the 2015 scheme. If you remain an active member, this can be taken; from age 55 with a reduction, at age 60 without any reduction, or after age 60 with a pension enhancement. If you have left service before being entitled to take your 2015 scheme pension, it will come into payment in full at your state pension age.

Why will my 2015 scheme pension be reduced?

The Public Service Pensions Act 2013 requires the Normal Pension Age to be age 60 and pension taken before that to be reduced. The table below sets out the reduction to your 2015 scheme pension only, your 2006 scheme pension will be taken unreduced:

  55 56 57 58 59
2015 scheme 21.8% 17.9% 13.9% 9.5% 4.8%

What pension will I get at retirement?

There is no cap on the amount of pension that can be earned in the 2015 scheme. Firefighters who transfer from the 2006 scheme to the 2015 scheme will be able to receive a bigger pension than had the reforms not taken place.

What contributions will I be paying?

Until your taper date, your contributions will continue to be paid into the 2006 Retained Modified Scheme, contribution rates for the period 1 April 2018 to 31 March 2019 are as follows:

Contribution Table 2018/19
Pensionable pay range for an employment Contribution rate 1 April 2018 to 31 March 2019
Up to and including £15,609 11.0% of pensionable pay
More than £15,609 and up to and including £21,852 12.2% of pensionable pay
More than £21,852 and up to and including £31,218 14.2% of pensionable pay
More than £31,218 and up to and including £41,624 14.7% of pensionable pay
More than £41,624 and up to and including £52,030 15.2% of pensionable pay
More than £52,030 and up to and including £62,436 15.5% of pensionable pay
More than £62,436 and up to and including £104,060 16.0% of pensionable pay
More than £104,060 and up to and including £124,872 16.5% of pensionable pay
More than £124,872 17.0% of pensionable pay

After your taper date, you will join the FPS 2015 Scheme, details of the current contributions can be found at How much do I pay?

Opting out

Be aware that opting out or not joining the 2015 scheme has long-term implications and members should not make any such decision until they are aware of all the implications. Anyone who is considering this course of action should take independent financial advice.

Withdrawing Pension Savings

From April 2015, individuals aged over 55 with Defined Contribution pension savings will be able to withdraw pension savings, subject to their marginal rate of taxation and scheme rules.

The Firefighters Pension Scheme is a Defined Benefit public sector pension scheme, therefore the change in the rules cannot be directly applied to this Scheme. From 6 April 2015 transfers out from Defined Benefit public sector pension schemes (such as the Firefighters Pension Scheme) to Defined Contribution schemes, will no longer be possible.

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