Army pension Advice

Discussion in 'Army Pay, Claims & JPA' started by michmcco, Jan 21, 2011.

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  1. Hi all,
    Quick question – My lad is a 4years in Gren Guard. He is re-signing next month. What is the minimum time served to get a pension? Given that there are no jobs out here right now I need to advise him on his long term prospects like staying in until he gets a liveable pension!!
  2. 12 years for half pension.
  3. Cheers - any idea what the equates to in money if he were taking it now?
  4. It equates to zero. He did not do enough to gain any pension at all.
  5. I left as a SSgt after 22 years and I can't live on the Army pension so I have no choice but to work!

    Tell him to stick with it - only 17 years to go and he can get a crap pension like me too!
  6. You can live on it.

    In fact you have been very expensively trained and conditioned exclusively to be able to live on it.

    Shell scrape - basha - hexitelly and road kill sarnies = more than enough pension :)
  7. For those of you who may have expected to retire after 22 years at age 40 and never work again because of your pension, get real. Investment bankers may manage to achieve that, but public servants such as ourselves will not. However, we do enjoy one of the better pension schemes around so shut up and stop whingeing.

    What we do have is a pension to boost our earnings later in life, which is something that many others do not have.

    To the OP, it is his choice. Employment opportunities are getting scarcer, so he should certainly not jump without a definite prospect to go to. And yes, the ability to continue to build his (very good) military pension is something he should certainly consider.
    • Like Like x 1
  8. vauxhall

    vauxhall Sponsor

    As he has only been in for 4 years he must be a member of AFPS 05 as AFPS 75 closed to new entrants on 6 April 2005. AFPS 05 is a final salary pension scheme which has an accrual rate of 1/70. So, if he leaves with 4 years reckonable service, he will have a preserved pension of 4/70s of his basic pay and a preserved lump sum of three times his pension. These preserved benefits are payable at age 65 but can be paid earlier with actuarial reduction.

    If you go to and follow the AFPS 05 links you will get more details.

    If he is (or you are) help is available from the Forces Pension Society. Details on The Forces Pension Society .
  9. I do not think it was ever designed or structured to live on, unless ill or idle not many of us could afford to retire completely at 40 some thing, what it gave me was the option of not working every hour god sends just to keep afloat in my first few years as a civvie.

    Once settled in and making steady money, used it to build up the pension pot, in our case we bought a 2nd property and rented it out, the pension paid the deposit etc, a bit more difficult with the way things are at the moment, but even if you could divert a chunk of it every month it grows, it serves as a good source of income for haggling loans/mortgages.

    My nephew has just taken the plunge from the I.Gds at the 12 year point, i just hope it is the right decision for him, a singly so at least he has a bit of room to manuveoure.
    • Like Like x 1
  10. not trying to Hijack the thread but a quick question!

    i was MD'd in 1994 and took my Army pension straight away is this payable till i drop dead or til im 65?? or does it increase or decrease at any point??
    it was a while ago and i cant remember fook all they told me at the time

    ive looked on the links vauxhall posted above and cant find anything!

    any help would be appreciated

  11. It is for life mate, contact pensions office at Glasgow though for up to date info: they have been really helpful in the past, dont want to lose their jobs in the cuts!!

    Try this: 0800 085 3600
  12. I retired a couple of years ago as a WO1, my pension is OK, pays the mortgage and the bills, it takes up my entire tax-free allowance so all my wages are totally taxed which makes my pay slips look like im being hammered. Regardless of how much it is, its basically free money that youll always have each month.
    • Like Like x 1
  13. Bugger there's me thinking my badge was bigger than yours.
    Agreed though it is free capital income, and as you say the bloody taxman gets it in all directions!
  14. and sometimes perspective employers will take into account that you are receiving an Army pension when they are working out a wage package! shouldnt but do!
  15. Yes, i was interviewed for a job with W.Mids polizei many moons ago good interview got a job offer, should have been around the £20-£25k mark, but the hr dept tried a flanker and took the pension into account and reduced the pay on offer.Needless to say i politely declined.