Firefighters RDS modified scheme
Two pension option (“split award”)
Unlike the other pensions mentioned here, which generally reflect the age and/or grounds for retirement, the two pension option is a device to protect the final salary benefits of a firefighter who has had a reduction in pensionable pay. In the event of such a reduction, the pension rights accrued up to the date of reduction would be assessed as if a deferred pension, and a second pension would start to accrue from the following day. When the firefighter eventually leaves in circumstances where the second pension becomes payable, the first pension would be payable too. Alternatively, the firefighter could choose to add the service upon which the first pension would be based, to the service upon which the second pension is based and have a single pension calculated on the second period's final pensionable pay. This could be the best option if final pay in the second period now exceeds the final pensionable pay for the first (allowing for inflation).
Part of split pensions can be commuted to provide a lump sum.