AFPS 75 question

Discussion in 'Armed Forces Pension Scheme' started by stackon, Mar 14, 2012.

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  1. This my seem like a simpleton question, but, here goes. I am currently on the AFPS75 and took the veng long(?) which would extend my service to 24 years (Apr 14). Now I hit my 22 pensionable next month and as my circumstances have changed I will be/want to hand my notice in on my 22 date with a view to hitting the resettlement trail and leaving as soon as possible thereafter.

    Question I have, will my pension be paid normally on my termination even though I won't be doing the full 24 and want to leave either on my 23 yr point or just before (if I get set up with a job, early release app)?

    I don't want to sign off next month if the SPVA won't pay me my pension and lump sum stright off.

    Any answers are appreciated.
     
  2. I was on the Extended Career Module, which should have taken me up to 25 years (2015) but decided to leave after 23 years, this did not effect my AFPS 75 payout or pension. It all depends on the small print in your Terms of Service, I seem to recall completing the paperwork for the ECM after I was sure this would not effect my AFP.
     
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  3. Pension will be paid from the day you depart as you will have completed 22 years service as mandated within AFPS 75 rules. Only issue I would raise, and I'm no expert, is will it be at PVR rates as you have an Engagement to 24 years and you are pulling the pin early, or at the full rate (usually about £1K approx difference per annum). I would strongly advise a call to SPVA or even better a note to our resident Forces Pension Society comrade (if your not a member, become one) and ask their advice.
     
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  4. Sean is quite right. As long as you have 22 yrs reckonable service from age 18 you will get your pension immediately.

    I have the pension codes in front of me. For officers there is a PVR table but for Other ranks there is not. The OR tables are 'Standard', 'Misconduct, Incapacity, Unsuitability or Inefficiency' and 'Invaliding'

    If more help is required, join us and we will do out best for you (Forces Pension Society - Fighting for the forces and their families).
     
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  5. I went on to VEng but left just after my 22 year point. No issues with getting full immediate pension entitlement and lump sum. The only issue was going through pension on divorce process at the same time - but that's another story ;-)

    Berlin
     
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  6. Many thanks for all the advice. It has cleared up all my concerns and I'll be contacting JPAC next month to sign off.

    Once again, thanks for your time.