2012 Pension Rates

#3
Basically I understand it to mean you may not have paid enough tax on your 'thank you for being prepared to lay down your life, gratuity heres a minimal fiscal appreciation of your families sacrificies during your period of loyal tax paying service'; otherwise known as your lump sum. You have the option to save yourself some time by opting into HM Governments 'throw cash at fecking spongers' scheme; alternatively you could sponsor an 'Eastern European' family (for life) in the EU this is known as the 'Schengen Agreement'.
 
#5
Another way of looking at it is; my name is Nick Clegg;

you are an individual who cannot make a descision because we all look the same to you

My mum/dad/social worker/ geographical location told me that the Conservatives were the embodiment of evil

I don't care

I am claiming

Know any good 'Pads' round 'ere?
 
#7
The table relates to the amount by which pensions (state and public sector) increase in line with CPI in the first year of retirement. Those of you who have listened to the Forces Pension Society's briefing on the Financial Aspects Of Retirement will be familiar with this. Members of the Forces Pension Society receive newsletters and magazines keeping them up to speed with such things. To learn more about the Forces Pension Society visit our website (The Forces Pension Society).
 
#8
Does this multiplier work on the pension sum prior to commutation? If so, how can I find out what my pension would have been without commutattion?
 
#9
Does this multiplier work on the pension sum prior to commutation? If so, how can I find out what my pension would have been without commutattion?
The table is for year one only. After that, the full year's uplift applies. You need to look at the equivalent table for the financial year after you left and apply the relevant multiplier to the pre-commutation pension figure, then apply the full uplift for the following years. For members of the Forces Pension Society, we do the sums for you. To find out more about us visit The Forces Pension Society .
 
#10
Thank you very much for the info which answered my question FPS. I just had a look at your site and was very impressed although I think the membership is a litle steep for the benefits that I would currently recieve from it. I would almost certainly join once I reach full pension age and no longer have the luxury of MOD provided health care though.
 
#11
Thank you very much for the info which answered my question FPS. I just had a look at your site and was very impressed although I think the membership is a litle steep for the benefits that I would currently recieve from it. I would almost certainly join once I reach full pension age and no longer have the luxury of MOD provided health care though.
what MOD provided health care ? .....free prescriptions isn't exactly generous.
 
#12
The table is for year one only. After that, the full year's uplift applies. You need to look at the equivalent table for the financial year after you left and apply the relevant multiplier to the pre-commutation pension figure, then apply the full uplift for the following years. For members of the Forces Pension Society, we do the sums for you. To find out more about us visit The Forces Pension Society .
FPS, not sure I understand this. This only affects those who are in receipt of a pension or to preserved pensions accruing ?

Those serving did not have any uplift on our AFPS in 2011, we won't get one in 2012 either. The Govt are giving us a 1% pay rise in 2013 & 14, which may lead to a 1% increase but no promises.

In 2015 there is a new Pension Scheme which all serving WILL be transferred to (with protected rights) on whatever we have accrued (in either pension scheme) until then.

About right ?

General Election in 2015 where the LibDems will be liquidated and the Tories then will reign unchallenged. It will be interesting to see what, if any, recognisable pension scheme remains therafter.
 
#13
FPS, not sure I understand this. This only affects those who are in receipt of a pension or to preserved pensions accruing ?

Those serving did not have any uplift on our AFPS in 2011, we won't get one in 2012 either. The Govt are giving us a 1% pay rise in 2013 & 14, which may lead to a 1% increase but no promises.

In 2015 there is a new Pension Scheme which all serving WILL be transferred to (with protected rights) on whatever we have accrued (in either pension scheme) until then.

About right ?

General Election in 2015 where the LibDems will be liquidated and the Tories then will reign unchallenged. It will be interesting to see what, if any, recognisable pension scheme remains therafter.

First regarding the table, if you are still serving it has no relevance. You pension is linked to your rank for AFPS 75 or you Final Pensionable Salary for AFPS 05. The table matters only to those who have just left as it dictates the first pension increase (whether preserved or not)..

The new arrangement (2015 or 2016) will, as we understand it, mean that anyone serving will transfer. I am actively chasing the Framework Document. This will set out the position regarding accrued benefits.
 
#17
Why do you say 2016. Have you heard something we havent????? I thought the gobment were going to have it in place by 2015?
Looking back at the experience of bringing AFPS 05 into being, work started on writing the Statutory Instrument containing the Scheme rules in late 2003 and it took about 15 months to finalise it and make it law. As yet the Framework Document has not been published and that will need to go out to consultation. These two facts lead us to believe that it could be 2015 or 2016 - the Hutton Report did say that the Armed Forces scheme might take a little longer (and he could be right).

I haven't got any news on when the Framework Document will come out - I asked this morning - it seems it is held up by issues with the Treasury. Keep an eye on our website, as we will post the Document there when it does come out ( The Forces Pension Society ).
 
#18
It would be interesting to know the legality of forcing employees from one scheme they signed up to, onto another scheme they have not signed up to, especially if it signicantly changes their terms and conditions.
 
#19
It would be interesting to know the legality of forcing employees from one scheme they signed up to, onto another scheme they have not signed up to, especially if it signicantly changes their terms and conditions.
I am afraid that it happens all the time. As long as accrued benefits are preserved, it is quite legal.
 

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