The Scheme offers you valuable benefits at retirement, including a regular pension income and the option of a tax-free cash lump sum.

You normally retire from the Company and take your pension on your 60th birthday, with the exception of Fire Service members who can take their pension on their 55th birthday.

You will receive a pension based on your Final Pensionable Salary and your period of membership in the Scheme.

Your pension will be calculated as follows:

Total Annual Pension

Example Calculation

The example below assumes a member has:

  • A Final Pensionable Salary of £27,000;
  • Completed 24 years’ Pensionable Service prior to 30 September 2015; and
  • Completed 1 year’s Pensionable Service on or after 1 October 2015.


If any of your Pensionable Service is part time, your Pensionable Service and Pensionable Salary will be adjusted to ensure you receive the correct level of benefits.

Your Pensionable Salary during any period of part time service will be increased to the level it would be if you were working full time. Your Pensionable Service will be reduced by the same proportion as your Pensionable Salary has been increased.

For example, if you are currently working 50% of the hours of a full time employee and your actual Pensionable Salary is £12,000 per annum the calculation of the pension you build up in one year will be as follows:

1/60a x 6 months Pensionable Service (1 year x 50%) x £24,000 Final Pensionable Salary (£12,000 / 50%) = £200 per annum.

a assumes service after 1 October 2015

Please note that your contributions will still be based on your actual part-time Pensionable Salary you receive (£12,000 per annum in the case of the example above).

If you are a shift worker, your Pensionable Salary does not include shift pay. Instead, you will build up an additional Shift Credit each year, which will be added to your Pensionable Service.

The calculation of an additional Shift Credit for one year’s service is as follows:

365 (days)


Annual shift pay

= number of days’ of Shift Credit

Annual Pensionable Salary

If you stop shift work then you will stop earning Shift Credits, but any you have already built up will count towards your final Pensionable Service.

You also have the option to exchange some of your pension in return for a lump sum, which is normally tax-free.

The maximum lump sum is 4.4 times your initial pension. If you choose to receive a cash lump sum your initial pension will be reduced as a result. The reduction is calculated by dividing the cash sum you decide to take by a factor (determined by the Scheme Actuary) and deducting the result from your annual pension. The factor changes depending on your age.

Any pension payable to your Spouse or Registered Civil Partner, following your death, will be based on the pension you would have been receiving at the time of your death if you had not decided to exchange some of your pension for a cash sum.


Key benefits once your pension is in payment:

  • Your monthly pension will be paid on the last working day of each month.
  • Your pension will increase each year. Click here for more detail.
  • If you die and leave a Spouse or Registered Civil Partner, part of your pension will continue to be paid for the rest of their life. Click here for more detail.

For more information on the following options, please click the links below: