An Update on McCloud

john9748

Swinger
Evening everyone. i joined in 2004 at 16 i then stayed on the 75 pension and then eventually went onto 15 with everybody else, so will i get a choice to either go back on 75 or would they offer 05 ?
Would that be it then or will there be a new pension brought out in the future?
 

dan_brown

War Hero
Evening everyone. i joined in 2004 at 16 i then stayed on the 75 pension and then eventually went onto 15 with everybody else, so will i get a choice to either go back on 75 or would they offer 05 ?
Would that be it then or will there be a new pension brought out in the future?
Did you read the thread or just post your question?

Nobody knows yet is the answer, this is the latest update that was posted on pg 3, i would suggest you read it and draw your own conclusions:

 
Evening everyone. i joined in 2004 at 16 i then stayed on the 75 pension and then eventually went onto 15 with everybody else, so will i get a choice to either go back on 75 or would they offer 05 ?
Would that be it then or will there be a new pension brought out in the future?
Interesting that you're on 75. By the look of it that is what you would return to. If you were on 05, you'd return to that. That's an assumption I've made based in what has been released.

No one can tell you if there will be a future pension but if there is I'd imagine that they wouldn't force people over or if they did everyone will be forced over. They had their fingers burnt on this one.

The important question for you is are you absolutely 1000% you're on AFPS75? Any calculations you make, should you be offered the choice, need to be based on the correct info.
 
I have a colleague who has completed 34yrs so far, he states that he is planning on doing another year or 2 and is STAYING on the 15 pension; he has 'worked out' it is better than the 75.

I don't see it myself, but i am waiting for the revised AFPS calculator to TRY and work this beast out!!
I've used the representative rates of pay and by my broad brush rough estimate, I'm better off on 15 too.

I'll obviously check again if they release a calculator or more info.
 

Diehard101

Swinger
John 9748 are you definitely on afps75 the only reason I ask is I joined up at 17 in 2003 recently got out through MD but my pension is only counting from when I turned 18 in 2004, I imagined you turned 18 in 2005 and I think it was April 05 everyone new went onto 05 and everyone else had the option,I don't know the answer but you must be one of last for that period if you turned 18 after April 05 but your pension is 75 and reckonable service only counts from 18 onwards on 75 ,and if you had turned 18 later in that year it had rolled into new pension scheme by then .if you were 18 before April 05 ignore all that lol ,you probably know better than anyone just wouldn't want to see you calculate the wrong one .
 

john9748

Swinger
Did you read the thread or just post your question?

Nobody knows yet is the answer, this is the latest update that was posted on pg 3, i would suggest you read it and draw your own conclusions:

Dan, yes i read the thread but like a lot of people when it comes to pensions its not so easily read thats why i asked the question.
 

john9748

Swinger
Interesting that you're on 75. By the look of it that is what you would return to. If you were on 05, you'd return to that. That's an assumption I've made based in what has been released.

No one can tell you if there will be a future pension but if there is I'd imagine that they wouldn't force people over or if they did everyone will be forced over. They had their fingers burnt on this one.

The important question for you is are you absolutely 1000% you're on AFPS75? Any calculations you make, should you be offered the choice, need to be based on the correct info.
Lifeboat, im 100% but i will double check JPA today if its on there.
 

john9748

Swinger
John 9748 are you definitely on afps75 the only reason I ask is I joined up at 17 in 2003 recently got out through MD but my pension is only counting from when I turned 18 in 2004, I imagined you turned 18 in 2005 and I think it was April 05 everyone new went onto 05 and everyone else had the option,I don't know the answer but you must be one of last for that period if you turned 18 after April 05 but your pension is 75 and reckonable service only counts from 18 onwards on 75 ,and if you had turned 18 later in that year it had rolled into new pension scheme by then .if you were 18 before April 05 ignore all that lol ,you probably know better than anyone just wouldn't want to see you calculate the wrong one .
i turned 18 in Jan 06, the chief clark asked me back before that if i wanted to change from 75 to 05 i said no as i was sure somehow i would be worse off, so thinking about it i dont no if i have seen something that says im on 75 will see if JPA throws anything up today :/
 

Forces Pension Society

Sponsor
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Those who joined on or after 6 April 2005 were auto enrolled into AFPS 05. AFPS 75 was closed to new entrants.

During the period 6 April 2005-6 April 2006 there was an Offer To Transfer (OTT) to AFPS 05 and only those who chose to transfer to AFPS 05 transferred. It is nothing to do with turning 18 - it is about what you chose, and not many people did opt to leave AFPS 75.

Diehard obviously stayed in AFPS 75 as his pension counts from age 18. John 9748 - you should get a Benefit Information Statement each year just after your birthday. If you still have the last one, that will tell you what scheme you are on. Alternatively, put in an AFPS Form 12 (on JPA) and get a forecast. If you put AFPS 75 as your scheme (which is most likely) the resulting forecast will tell you all you need to know.
 
Playing hurry up wait and see, like a few on here now CS, and have been for decades, RC is that we have to have projections on "both schemes" given the size of CS it not coming in a rush.
 
Playing hurry up wait and see, like a few on here now CS, and have been for decades, RC is that we have to have projections on "both schemes" given the size of CS it not coming in a rush.

Not sure if this applies to the CS pension, but I've just enrolled in the TPS pension scheme and apparently my army pension terms and conditions are applied to TPS to a certain extent - I think the main one being I can take the pension at 60 rather than 65 (and this is without having to transfer my army pension to TPS - apparently its just the T&Cs carry over).

This might be useful info for other people who have moved onto government pension schemes to look into (apparently it's a thing with all government backed pensions).
 
Those who joined on or after 6 April 2005 were auto enrolled into AFPS 05. AFPS 75 was closed to new entrants.

During the period 6 April 2005-6 April 2006 there was an Offer To Transfer (OTT) to AFPS 05 and only those who chose to transfer to AFPS 05 transferred. It is nothing to do with turning 18 - it is about what you chose, and not many people did opt to leave AFPS 75.

Diehard obviously stayed in AFPS 75 as his pension counts from age 18. John 9748 - you should get a Benefit Information Statement each year just after your birthday. If you still have the last one, that will tell you what scheme you are on. Alternatively, put in an AFPS Form 12 (on JPA) and get a forecast. If you put AFPS 75 as your scheme (which is most likely) the resulting forecast will tell you all you need to know.
Are there any old 1975 pension calculators about to compare differences in case we get the option to go back to 75?
 
Are there any old 1975 pension calculators about to compare differences in case we get the option to go back to 75?
No, but as a rough guide.... Divide your current salary by 70, and multiply by the number of years you have served (post 18/21 as required). Your annual pension will be this amount and your tax free lump sum will be 3 x this sum.

Obviously your annual salary will be higher when you actually retire and this assumes you have served the required number of years to qualify for an immediate pension.

Immediate Pension
Qualifying service for pension: 16 years from age 21 (or date of entry if later) (Officers), or 22 years from age 18 (or date of entry if later) (Other Ranks)

Full Career Maximum Pension
  • age 55, with 34 years’ reckonable service (Officers) or
  • age 55, with 37 years reckonable service (Other Ranks
Resettlement Grant
A tax-free lump sum paid after 9 years reckonable service (Officers)/12 years reckonable service (Other Ranks) on leaving the Armed Forces to those who are not eligible for a full or an Immediate Pension

Full Details Here
 

dan_brown

War Hero
No, but as a rough guide.... Divide your current salary by 70, and multiply by the number of years you have served (post 18/21 as required). Your annual pension will be this amount and your tax free lump sum will be 3 x this sum.
Is that correct? By your method a 30yr Sgt would leave with £17300 pension, but using the pension calculator to give a 75 AFPS puts the same Sgt at £14899 pension (changed the date of birth to ensure 45 years of age before 1 Apr 2012, but same length of service and leaving on same date.)

That's quite a difference.
 

Forces Pension Society

Sponsor
Sponsor
A straight 1/70th will not work for AFPS 75 (as dan_brown points out). If it was as easy as that, MOD would not go to the trouble of preparing and issuing Pension Codes. AFPS 75 has a higher accrual rate before Immediate Pension (IP) Point than after it, so the Codes are key.

For those who leave before IP (so, with a preserved pension), the formula is more straight forward:

For Officers it is 3% of the full career rate for their rank for pension multiplied by reckonable service; and

For Other Ranks it is 2.75% of the full career rate for their rank for pension multiplied by reckonable service.

The straight 1/70th works for AFps 05 and RFPS.
 
No, but as a rough guide.... Divide your current salary by 70, and multiply by the number of years you have served (post 18/21 as required). Your annual pension will be this amount and your tax free lump sum will be 3 x this sum.

Obviously your annual salary will be higher when you actually retire and this assumes you have served the required number of years to qualify for an immediate pension.

Immediate Pension
Qualifying service for pension: 16 years from age 21 (or date of entry if later) (Officers), or 22 years from age 18 (or date of entry if later) (Other Ranks)

Full Career Maximum Pension
  • age 55, with 34 years’ reckonable service (Officers) or
  • age 55, with 37 years reckonable service (Other Ranks
Resettlement Grant
A tax-free lump sum paid after 9 years reckonable service (Officers)/12 years reckonable service (Other Ranks) on leaving the Armed Forces to those who are not eligible for a full or an Immediate Pension

Full Details Here

Or just alter your DoB on the current calculator so that you are too old to go onto the 15 pension.

Too slow!
 

john9748

Swinger
Lifeboat, im 100% but i will double check JPA today if its on there.
Interesting that you're on 75. By the look of it that is what you would return to. If you were on 05, you'd return to that. That's an assumption I've made based in what has been released.

No one can tell you if there will be a future pension but if there is I'd imagine that they wouldn't force people over or if they did everyone will be forced over. They had their fingers burnt on this one.

The important question for you is are you absolutely 1000% you're on AFPS75? Any calculations you make, should you be offered the choice, need to be based on the correct info.
Life boat, I received my yearly pension letter and that’s states 75/15 thanks for your help.
 

john9748

Swinger
John 9748 are you definitely on afps75 the only reason I ask is I joined up at 17 in 2003 recently got out through MD but my pension is only counting from when I turned 18 in 2004, I imagined you turned 18 in 2005 and I think it was April 05 everyone new went onto 05 and everyone else had the option,I don't know the answer but you must be one of last for that period if you turned 18 after April 05 but your pension is 75 and reckonable service only counts from 18 onwards on 75 ,and if you had turned 18 later in that year it had rolled into new pension scheme by then .if you were 18 before April 05 ignore all that lol ,you probably know better than anyone just wouldn't want to see you calculate the wrong one .
Die hard, I’m on 75/15 I had my paperwork through for the yearly pension.
 

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