The member's contributions mirror those of the FPS 1992; the contributions that a firefighter will pay, will depend on their pensionable pay. The 'mandatory' contributions (either paid as a one-off lump sum, or spread over a 10-year period) will have been based on the FPS 1992 rates applicable before 31 March 2014. The regular contributions required for current/future membership will be reviewed for each scheme year, and the rates for 2017/18 are shown in the table below.
For retained firefighters, the pensionable pay shown in column 1 will be their reference pay (i.e. the pay applicable to a whole-time regular firefighter employed in a similar role with similar qualifying service).
1 April 2018 - 31 March 2019
Whole Time Pay
|
Percentage
|
---|---|
Up to and including £15,609
|
11.0%
|
More than £15,609 and up to and including £21,852
|
12.2%
|
More than £21,852 and up to and including £31,218
|
14.2%
|
More than £31,218 and up to and including £41,624
|
14.7%
|
More than £41,624 and up to and including £52,030
|
15.2%
|
More than £52,030 and up to and including £62,436
|
15.5%
|
More than £62,436 and up to and including £104,060
|
16.0%
|
More than £104,060 and up to and including £124,872
|
16.5%
|
More than £124,872
|
17.0%
|
It is worth noting that pension contributions are payable before tax and national insurance is taken from a firefighter's pay. This means the true cost of the scheme is several percent less than the gross amounts stated above. A firefighter's employer typically pays substantially more than they do towards the funding of their pension every year.