A few points from an AFPS brief 16 Aug 12

I attended the Forces Pension Society briefing today (16 Aug) which did raise some interesting and useful points, although relatively little on the future AFPS 15.

3 roles of Forces pension society
Past: Correcting unfairness and anomalies
Present: Providing expert advice to serving and retired service personnel
Future: Campaigning for improvements and sustainment of pension provision
Over 50% of personnel need a 2nd opinion on terminal benefits and entitlements
MOD Pension calculator can provide inaccurate results in particular:
AFPS 75 does not take into account acting or substantive rank changes within the last 12 months
AFPS 05 becomes increasingly inaccurate the further the leaving date is from Mar in any one year
All personnel are entitled to one free written pension statement every 12 months. This is requested from SPVA and is recommended
If you are a member of the Forces Pension Society this statement can be checked with their helpdesk for accuracy
If you end your service in Mar in any year you can be out of pocket by hundreds of pounds a year – advice is to aim to leave (where possible) from Apr 5th-Oct
Under AFPS 05 you are generally better off to leave before your termination date due to EDP payments and 2 lump sums.
Under AFPS 75 it is possible to pay Additional Voluntary Contribution (form avail in JSAU) to increase death in service benefit lump sum from 3 x representative pay to 4 x representative pay (the same as the AFPS 05 provision)
Pensions issues become particularly complex around the following issue:
Pension splitting following divorce
First pension increment
Disability during retirement
The Forces Pension Society are a not for profit organisation who provide a range of benefits to its members, including the pensions helpdesk. The cost is £32 a year more detail is at Forces Pension Society - Fighting for the Forces and their Families
I wasn't present at the brief but am posting as there may be a few points of interest to others. The point in bold, if true, is one to look out for.

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