Army Pension

Discussion in 'Armed Forces Pension Scheme' started by Arters, Jun 8, 2011.

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  1. 2 Years to go before I retire, my question is:-
    Will I receive Full State Pension AND my Full Army Pension,
    or does one reduce the other?
    Thanks in advance, Guys.
  2. You get both, assuming you meet the age requirement for both of course.

    Edited to add: Get yourself on a FAR course, it's well worth it.
  3. Yes, buddy, many thanks, I do meet all the req.
    At the risk of being labelled a 'Thicko' what's a FAR course.
  4. Yes.

    Contributions dependent.

    With only 2 years to go, there would be almost feck all you can do anyhow. Pensions planning needs to start younger.

    You should have had a wee note form the pensions people (state) saying roughly what you're going to get a few years ago.
  5. You get both but they are added together for tax purposes. So, if your Army pension is on (or above) the tax threshold, you will get your OAP less the full amount of tax.
  6. Well, I will kick my own arrse, I am in receipt of a Full army Pension and have
    been for a number of years, my contributions are up to date, I have NEVER
    been out of work(46yrs) I should I suppose have said 'State old age Pension'

    Cheers, Guys.
  7. Sorted, us ex Bleeps need to stick together..........ASANTE SANA!
  8. No,what you should have said is 'State Old Age Pittance'. ;-)
  9. And if you haven't had anything from them, you can use the website to ask for a pension forecast. If it is not as you expected, then you have some time to sort it out!

  10. Not to my knowledge...

    The Old Age Pension in its various guises is paid gross. Any other pension income will then be adjusted for tax purposes but, to be honest, the tax system beyond the age of 65 and age related allowances is not something to which I have paid much attention! I have a few years yet!!

  11. Did anyone come back with the answer?
  12. FAR = Financial Aspects of Resettlement.

  13. Murky buckets.
  14. From the "Daily mail"....

    (Question) Since my 65th birthday, Xafinity Paymaster has been deducting £21.02 per month from my Armed Forces pension under what it says are National Insurance modification rules.
    I have paid NI throughout my working life. I assumed once I was retired there would be no more to pay.
    The Department for Work and Pensions says it is nothing to do with them.

    (Answer) These are not the type of NI contributions that are taken from our wages. You are caught by an archaic quirk going back to 1948.
    When NI was made compulsory for all, the Government was keen to make sure public sector workers (including the Armed Forces) did not earn two benefits for the same period of service.
    This deduction takes away some of your service pension to take account of the state pension, which is why it started on your 65th birthday.
    In addition, anyone who contributed to the Graduated Pension Scheme (a forerunner to the State Second Pension) will have their Armed Forces pension reduced. This is also to make sure the individual does not benefit from both the Graduated Pension element of the state pension and the Armed Forces pension for the same period of service.
    The good news is once these deductions have been applied, they will remain at the same level each year. So as your pension increases, they will take away an ever smaller proportion.

    So my understanding is that you receive 100% of both but are taxed on the Military pension !!