2010 Pension Forcast

#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.

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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.
 
#4
Drlligaf said:
I assume (hope) that Forces pensions will be treated differently. Thus far I have heard nothing relating to the Armed Forces pensions for 2010.
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
whosthedaddy said:
Drlligaf said:
I assume (hope) that Forces pensions will be treated differently. Thus far I have heard nothing relating to the Armed Forces pensions for 2010.
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.[/quote]

My Bold

Are you having a laugh, i could rattle on for hours why they should be treated differently but it has all been said before on other threads!

Can i assume you are not in receipt of a forces pension! :x
 
#7
whosthedaddy said:
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.
throbber!
 
#8
BUDGIE-MIA said:
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.
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:

Index Linking.

Annual increase in pension value in line with movements in the Retail Prices Index (RPI). Changes are made in April, using September's annual headline rate of inflation.
All ill-helath pensions, full career pensions and dependants pensions are index linked from the date of payment with the exception of Immediate Pensions (IPs) which are not index linked until age 55.
Preserved pensions are index linked using prices since the date of leaving service.
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).
 

oldbaldy

LE
Moderator
#10
Travis_Bickle said:
Just checked on the AFPS 75 PDF.

It states:

Index Linking.

Annual increase in pension value in line with movements in the Retail Prices Index (RPI). Changes are made in April, using September's annual headline rate of inflation.
All ill-helath pensions, full career pensions and dependants pensions are index linked from the date of payment with the exception of Immediate Pensions (IPs) which are not index linked until age 55.
Preserved pensions are index linked using prices since the date of leaving service.
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).
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
Snollygoster said:
BUDGIE-MIA said:
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.
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.
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.
 
#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/...eek-increase-in-state-pension-from-April.html
 
#15
BUDGIE-MIA said:
Snollygoster said:
BUDGIE-MIA said:
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.
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.
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.
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
 

oldbaldy

LE
Moderator
#16
Litotes said:
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
& your War Pension, if you have one, will by the 1.5% stated above:
War Pension Rates 2010 - 2011
 
#17
oldbaldy said:
Litotes said:
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
& your War Pension, if you have one, will by the 1.5% stated above:
War Pension Rates 2010 - 2011
Thanks, Oldbaldy. I wasn't aware that the War Pension was treated differently to the Service pension in inflation terms.

Litotes
 

oldbaldy

LE
Moderator
#18
Litotes said:
I wasn't aware that the War Pension was treated differently to the Service pension in inflation terms.

Litotes
War Pensions are linked to Social Security Benefits. Until not that many years ago, what was then, War pensions Agency was part of DSS rather than MOD.
 
#19
I'm confused now...

I think mines a service attributable pension. Last year's increase was 5% based on the preceeding September's RPI. My leaflets state that if the RPI falls below 2.5% then the April's increase, regardless of how low the RPI falls will still be a minimum of 2.5%.

Correct me if I'm wrong please.
 
#20
supermatelot said:
I'm confused now...

I think mines a service attributable pension. Last year's increase was 5% based on the preceeding September's RPI. My leaflets state that if the RPI falls below 2.5% then the April's increase, regardless of how low the RPI falls will still be a minimum of 2.5%.

Correct me if I'm wrong please.
I understand from your use of the phrase "Service attributable pension" that you are receiving a pension because you were medically discharged?

From the wording on your leaflet, it must be treated in the same way as the Old Age Pension and the War Pension.

Not my area of expertise, though.

Litotes
 

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