How much do I pay towards my pension?
|Pensionable pay band||Current rate||Contribution rate increase from 2014/15||Contribution rate 2014/15|
|Upto and including £15,000||8.5%||0.0%||8.5%|
|More than £15,000 and upto and including £21,000||9.1%||0.3%||9.4%|
|More than £21,000 and upto and including £30,000||9.6%||0.8%||10.4%|
|More than £30,000 and upto and including £40,000||9.9%||1.0%||10.9%|
|More than £40,000 and upto and including £50,000||10.1%||1.1%||11.2%|
|More than £50,000 and upto and including £60,000||10.2%||1.1%||11.3%|
|More than £60,000 and upto and including £100,00||10.5%||1.2%||11.7%|
|More than £100,000 and upto and including £120,000||10.8%||1.3%||12.1%|
|More than £120,000||11.1%||1.4%||12.5%|
As a member of the NFPS you will pay a contribution of pensionable pay, as shown in the table above. Your Fire and Rescue Authority will pay a contribution of about 14.2% including additional charges for ill-health retirement benefits. In England employees' and employers' contributions are determined by the Secretary of State on the advice of the Scheme Actuary who will have regard to the total cost of Scheme benefits and they will be reviewed regularly. Valuation of the NFPS is expected to take place every four years. Although because of the different funding system used in Scotland there is no formal employers contribution, the employers cost of providing the scheme can be assumed to be the same as the employers contribution rate shown above. The pensionable pay upon which contributions are assessed is the core pay and all permanent emoluments determined by the firefighter's role or, in the case of a principal officer, the salary appropriate to the overall responsibilities of the post. It will also include any retaining allowance paid to a member on a retained duty contract.
If you are part-time, contributions will be deducted on your part-time pay.
If sick pay ceases, no contributions are payable (the period of unpaid sick leave does not count for pension purposes).
During paid maternity or adoption leave you would pay contributions on whatever rate of pay you receive; if a period of additional maternity or adoption leave is unpaid, you will have the option to pay contributions on the rate you were receiving immediately before pay ceased, if you wish to count that period as pensionable service. If you have an unpaid period of absence for other reasons, you will have the option to pay contributions (based on the pay you would have received but for the absence) in order that the period can count as pensionable service. You would be required to pay the full cost of making the absence pensionable i.e. the 8.5% due from you plus the amount that would be due from the Fire and Rescue Authority. At their discretion the Fire and Rescue Authority may agree to pay the employer's contribution for you.