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Paragraph 2 Payments and transfers into Firefighters' Pension Fund

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Each authority must make transfers into their FPF in accordance with the following paragraphs of this rule.

(2)

In each financial year beginning with the financial year ending on 31 March 2008, each authority must, by transfer to their FPF from any other fund maintained by them, make a contribution towards the discharge of their future liability for the payment of pensions under this Scheme.

(3)

The amount of the contribution under paragraph (2) must be such percentage of the authority’s estimate of the aggregate of the pensionable pay, as regards the year in respect of which the contribution is made, of those firefighters employed by the authority who are required to make pension contributions in that year, as determined and notified to them for that year by the Assembly.

(4)

In respect of each firefighter employed by the authority who retires with an entitlement to immediate payment of a higher tier ill-health pension under rule 2 of Part 3, the authority must transfer into the FPF such amount as is determined and notified to them by the Assembly as the higher tier ill-health charge applicable in respect of that pension.

(5)

In respect of each firefighter employed by the authority who retires—

(a)

with an entitlement to immediate payment of a lower tier ill-health pension under rule 2 of Part 3; and

(b)

with no entitlement to a higher tier ill-health pension,

the authority must transfer into the FPF such amount as is determined and notified to them by the Assembly as the lower tier ill-health charge applicable in respect of that pension.

(6)

The amount to be transferred under paragraph (4) or (5) must be transferred in three equal instalments.

(7)

The first instalment must be transferred on the date on which the employee retires.

(8)

The second instalment must be transferred on 1 April in the financial year that follows the financial year in which the first instalment was transferred.

(9)

The third instalment must be transferred on 1 April in the financial year that follows the financial year in which the second instalment was transferred.

(10)

Where a pension is paid under rule 6 of Part 3 (authority-initiated early retirement), an amount equal to the difference between the amount of the pension paid and the amount that would have been paid had a pension been payable from the same date under rule 5 of that Part (member-initiated early retirement), must be transferred to the FPF from any other fund maintained by the authority.