2010 Pension Forcast

Discussion in 'Armed Forces Pension Scheme' started by Snollygoster, Mar 11, 2010.

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  1. Pensions increase 2010
    Public service pensions which have been in payment for a year will not be increased from 12 April 2010 (ie as RPI in September 2009 was negative (-1.4%) benefits will remain at current cash levels). In years where there is an increase, any pension which has been in payment for less than a year will be increased by a proportionate amount depending upon the number of months it has been in payment. However, as there is no uprating this year, the percentage increases remain zero for payments beginning on or after 6 April 2009.

    :(



    Pension Forcast Page
     
  2. I assume (hope) that Forces pensions will be treated differently. Thus far I have heard nothing relating to the Armed Forces pensions for 2010.
     
  3. This is the services pension.
     
  4. Why would they be treated differently? The index link rise is to offset the rise in cost of living, if the cost of living has FALLEN be thankful that the greedy buggers aren't trying to cut your pension.

    I just don't see the rationale that forces pensions should be treated any differently to other pensions.
     
  5. Do not believe this has anything to do with Forces Pensions.
    This is for civil servants and the like and the 2% that has just been agreed for the Forces is used in the maths for Military Pensions.
    I will let you know if there was any changes when I receive my statement.
     
  6.  
  7. throbber!
     
  8. You don't need to wait, just check the existing rate against the table i.e. annual full Pension before any commutation x pension % shown in table for discharge date = new rate.
     
  9. Just checked on the AFPS 75 PDF.

    It states:

    I always thought that increases in forces pensions were linked to armed forces pay increases, but this is obviously not the case. I know that I should have paid more attention whenever pension briefings were being conducted but it's not really top of the list when you're years away from your 22 year point and you've got immediate work issues on your mind.

    No increase this year, but better than a reduction (let's not give these fcukers any ideas).
     
  10. oldbaldy

    oldbaldy LE Moderator Good Egg (charities)
    1. Battlefield Tours

    We are talking about different beasts here:

    1. Those who have left the service will receive no increase this year as others have said.
    2. Those who have a preserved pension will receive no increase in their 'shadow' pension.
    3. Those who are still serving. Pensions are adjusted by roughly the same amount as the average increase in basic salary for each rank. Hence there should be an increase in pension for those who retire in 2010/11 compared to those who retire in 2009/10.

    Creates anomolies but not as bad as those who retired back in the 70s when the rate of increase in salary was below the rate of inflation meaning those who were already retired recieved a higher pension than those who were about to retire.
     
  11. There has been no changes yet, it is done on the 1st of April and it is worked out on the Army pay increase on the rank on retirement. So I believe I will be looking for a 2%ish rise, as I am on full pension. Hope this helps.
     
  12. Does anybody know what the % rise for war/disability pensions for 2010??
     
  13. rumour has it at 1.5 % i think

    but someone in the know may correct me if im wrong :)
     
  14. State Pensions (including service pensions) are calculated at the Retail Price Index rate that prevailed in the September before the new financial year.

    RPI for Sep 09 was -1.4%, in theory meaning no pension uplift. The DWP has stated, however, that it will uplift pension rates in Apr 2010 by a minimum of 2.5% (article linked below).

    However, the Budget is next week and things could change.

    http://www.telegraph.co.uk/finance/personalfinance/6307881/Pensioners-to-get-2.40-a-week-increase-in-state-pension-from-April.html
     
  15. If you are in receipt of your Service pension, you are no longer linked to the rate of pay for Service personnel. Instead, you are linked to the RPI and the type of announcement from the Government that was the subject of the first post on this thread.

    No increase in your Service pension this year! But your Old Age Pension will increase!

    Litotes