Pension on reaching 55 ?

Discussion in 'Finance, Property, Law' started by Nulli_Boy, Feb 4, 2011.

Welcome to the Army Rumour Service, ARRSE

The UK's largest and busiest UNofficial military website.

The heart of the site is the forum area, including:

  1. Nulli_Boy
    Offline

    Nulli_Boy War Hero

    Gents, I would just like to ask of those in the know as i will reach 55 this year and was wondering by how much my pension would increase and at what stage they inform you of this increase ?

    Many thanks for your informed opinions.
     
  2. Norfolknchance
    Offline

    Norfolknchance LE

    Depends if you did 22 years and whether or not you commuted. If so, little difference as you've already had your rises (that's what my missus says anyway) but again, depending on rank when getting out, you might get between 3/5ths and 4/5ths what you get already so if you pocket £400, £700 is possible. But don't spend it all in one sweet shop!
     
  3. western
    Offline

    western

  4. Nulli_Boy
    Offline

    Nulli_Boy War Hero

    Thanks chaps,i came out in 93 after 20yrs service on options for change phase two was acting Sgt but only get a Cpl's pension and i commuted some of my pension to get a larger lump sum,will this have any effect on any future raise ?
     
  5. shiny_arrse
    Offline

    shiny_arrse LE

    If you commuted part of your pension, your pension is abated until 55. At age 55 you will get the full pension i.e. what you would have received if you had not commuted anything (and this will be index linked).

    Your best bet is to contact xafinity to confirm everything.

    Armed Forces scheme pensions pensioners queries Xafinity Paymaster

    Shiny
     
  6. Nulli_Boy
    Offline

    Nulli_Boy War Hero

    Thanks Shiny mucho appreciated !
     
  7. vauxhall
    Offline

    vauxhall Sponsor

    Xafinity Paymaster will inform you about the time the increase is due but The Forces Pension Society has tables which enable them to provide forecasts which uprate pensions in line with pension increases. You may have to be a member but follow the link and see.
     
  8. Nulli_Boy
    Offline

    Nulli_Boy War Hero

    Many thanks Vauxhall.
     

Share This Page