1975 PENSION RATES

#2
missmoneypenny5445 said:
Does anyone have a link to this years pension rates (75)
It normally takes a while for them to appear and I usually don't ask until May. However, just for you, Miss Moneypenny, I shall ask.

Litotes
 

oldbaldy

LE
Moderator
#5
What you have found the pension rates for 1975?
Bit young for that aren't you?
 
#11
Just a general query on those rates. From a dumb arsed grunt whose formal School qualification consisted of a Grade 3 CSE in Pottery.

Do the figures mean for example that a Ex WO2 who completed 22 yrs in the 1990's, and was 55 after the 31st Mar 2007 would find his/her pension increased to £11776 per annum.

Is that right?
 
#12
Jimmy_Kranke said:
Just a general query on those rates. From a dumb arsed grunt whose formal School qualification consisted of a Grade 3 CSE in Pottery.

Do the figures mean for example that a Ex WO2 who completed 22 yrs in the 1990's, and was 55 after the 31st Mar 2007 would find his/her pension increased to £11776 per annum.

Is that right?
No it doesn't I'm afraid.
 
#13
floppyjocky said:
Jimmy_Kranke said:
Just a general query on those rates. From a dumb arsed grunt whose formal School qualification consisted of a Grade 3 CSE in Pottery.

Do the figures mean for example that a Ex WO2 who completed 22 yrs in the 1990's, and was 55 after the 31st Mar 2007 would find his/her pension increased to £11776 per annum.

Is that right?
No it doesn't I'm afraid.
Damn, :cry:

Thanks for rapid reply FJ
 
#14
Jimmy, I would of expanded on that but I went off to find a thread that might help you. If you do a search of this forum for "pension at 55" then all the answers are available.

Basically your pension has increased every year by the rate of RPI, this is normally 2-4% but has been as high as 9% in the last 15 years.

You need to find these rates and add them up cumulatively, not forgetting that if you commuted your pension then you are in for a bigger increase.

If you need any help just ask as I've gone through this for a couple of others on here and just can't find the threads right now.
 
#15
Thanks again. I actually left in 2001 with just under 24yrs. It would be a nice pleasant pastime to watch my little nest egg grow( suddenly looking like Fagin, and rubbing mittened hands in glee).

Certainly better than watching the "other arf" struggling with the heavy shopping.
 
#16
Jimmy_Kranke said:
Thanks again. I actually left in 2001 with just under 24yrs. It would be a nice pleasant pastime to watch my little nest egg grow( suddenly looking like Fagin, and rubbing mittened hands in glee).

Certainly better than watching the "other arf" struggling with the heavy shopping.
Floppyjockey is correct; I have provided the calculation elsewhere. Your pension will stay at the same level until your 55th birthday, IIRC. Then it will be index linked based on the RPI figure for the month of your retirement.

Litotes
 
#17
Does anyone have last years rates so I can compare. Particularly interested in WO2 22year service.
Thanks in advance.
 
#18
Could someone please explain what the OR3, OR4, etc. in the Pensions Tables are.

I take it these amounts are pre-tax.

I left as a SNCO in 94' under Options for Change with 12 years service and full commutation of pension, i.e. 50% (a mistake which, owing to bad advice, cost me the best part of £ 10K over 10 years - but such is life).

I am aware that my current received pension is 50% of 12/22nd's of full rate and remains fixed to my 55th birthday when it then goes to full pension, index linked.

But at that point, which table would it then go to? Say for example, it was happening this year, which column from which table would I need to refer to?

Grateful for any info.
 
#20
Litotes said:
Jimmy_Kranke said:
Thanks again. I actually left in 2001 with just under 24yrs. It would be a nice pleasant pastime to watch my little nest egg grow( suddenly looking like Fagin, and rubbing mittened hands in glee).

Certainly better than watching the "other arf" struggling with the heavy shopping.
Floppyjockey is correct; I have provided the calculation elsewhere. Your pension will stay at the same level until your 55th birthday, IIRC. Then it will be index linked based on the RPI figure for the month of your retirement.
Litotes
I think that, in line with all other public sector pensions, AFPS 75 increases in April each year by the RPI figure for the previous September - plus or minus some adjustment based upon when you actually retired.

All other assertions are correct.

I have created a spreadsheet which, I hope, will give me a fairly good idea of what I can expect to receive at age 55. If you want a copy PM me with an e-mail address I can send it to.
 

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