Fire Pension Scheme

Calculating your Benefits

The FPS 1992 is a final salary pension scheme which means that your pension will be a proportion of final average pensionable pay. The proportion will depend, in part, upon how much pensionable service you have at the time of leaving the Scheme.

For each of the first 20 years of pensionable service, you will get 1/60th of average pensionable pay and for each of the following years you will get 2/60ths of average pensionable pay. Each day of pensionable service will count as 1/365th of 1/60th. The maximum number of 60ths that you can count is 40 (after 30 years' service).


If you retire at age 55 with 30 years of pensionable service and average pensionable pay of £30,000, your pension would be assessed as;

(20 x 1/60) + (10 x 2/60) x £30,000 = 40/60 x £30,000 = £20,000 annual pension

Or, if you retire at age 50 after 27 years with the same pay, your annual pension would be:

(20 x 1/60) + (7 x 2/60) x £30,000 = 34/60 x £30,000 = £17,000 annual pension

Note that when you retire, you will have the option to exchange part of the pension to provide a lump sum.

  • Pensionable Service
  • Pensionable Earnings
  • Exchanging your Pension