Advice needed on Terminal Benefits Preserved Award Pension.

Discussion in 'Armed Forces Pension Scheme' started by stubumbles, Apr 13, 2013.

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  1. Hi folks ... GREAT forum! Can I get a little advice please?

    I've just been looking through my little red folder of 'bumph' that I received when I left the Blues & Royals in Sept 1978 and found a letter and an APO Form 359 for a preserved pension.

    It has an annual figure of £330.00 which it says "is not ,commutable under any circumstance" and is payable at age 60 but reduced at age 65 "as a consequence of the National Insurance Retirement Pensions Scheme".

    1) So, my first question is: Will this still be reduced at age 65 even though, under new legislation, I will not receive a State Pension until age 67?

    2) Also, assuming I'm on the very lowest basic state pension - Can anyone tell me by how much this is reduced?

    3) It also says that the pension will be enhanced by the relevant pension increases which are applied to service pensions generally from the date of discharge. Therefore the next question is: Does anyone have a clue how much it would be worth from July 2014 when I am 60?

    4) Finally, does anyone know where I need to go to claim this and how it's done? I have an APO Form 44 and an address for the Army Pensions Office in Stanmore but no other paperwork/information about what to do to make a claim. I served as a Junior/Regular from 1970 to 1978

    Many thanks for your help in advance.
     
  2. You can write to SPVA and ask for a pension forecast which they're obliged to provide free of charge once in each tax year:

    SPVA
    Armed Forces Pension Scheme
    Mail Point 480, Kentigern House
    65 Brown Street, Glasgow G2 8EX
     
  3. May also be worth calling JPAC - 0800 085 3600 (0141 224 3600) - then choose the pension option from the recorded menu.

    PW
     
  4. Thanks all, I'll be sending a letter/making a call tomorrow. I got the pension for staying on for an extra 6-months, didn't think much about it at the time (I was only 24 then) so it'll be interesting to see what it amounts too now and if the 67 year retirement will have an effect on it.
     
  5. I make no promises but according to this site (linky) £330 pa in Sep 78 will now be worth £1645 pa. Good luck!
     
  6. Many thanks ... looking good, it would also mean the lump would be around £4800 tax free ... Yum!