care about your future

Use our jargon buster to find meanings to some of the technical terms used on this website and in our publications.

In addition to this jargon buster, we have listed answers to some of the more commonly asked questions which can be found here.

Please let us know if there are any terms we have not defined that you are unsure what they mean or if you have a question to ask that other members may be interested in.

Full protection

Fire 1992 scheme members – If, on 1 April 2012, you were paying into the Fire 1992 scheme and you were:

  • either at least 45 years old; or
  • age 40 or over with at least 20 years’ service

You will stay in the Fire 1992 scheme and not join the Fire 2015 scheme.


Fire 2006 scheme members – If you were an active member on 1 April 2012 and on that date you were age 50 or older, you will stay in the Fire 2006 scheme and not join the Fire 2015 scheme.

HMRC

HM Revenue & Customs

Normal pension age (NPA)

The age at which you can choose to retire from the scheme and have the full value of your pension paid. This is either age 55, or age 50 if you have at least 25 years’ service.

Pensioner re-employment

If you return to work after accessing your pension you must inform SPPA, as this may have an effect on the benefits payable to you.

Protection

Protection is the arrangement whereby certain members will remain in their current scheme beyond 31st March 2015.

Tapered protection

Tapered protection means that you do not join the Fire 2015 scheme on 1 April 2015. Instead, you will continue to earn benefits in your current scheme before eventually joining the Fire 2015 scheme at a later date.

You qualify for tapered protection if you are within four years of qualifying for full protection.

Retirement factors –These factors are applied to your pension if you take it at a date other than your normal pension age. They will reduce your pension if you take it early and increase it if you take it late.

Yield – The overall level of your contributions as a percentage of payroll required by HM Treasury which when added to the employers contribution will meet the liabilities of the scheme.