cancelled Army pensions

Discussion in 'Army Pay, Claims & JPA' started by Griffinthe2nd, Oct 9, 2009.

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  1. On a recent pensions brief there was rumours being thrown around that the current pension could be cancelled to save the government money. Anyone else heard this or reckon there is a possibility of it happening?
     
  2. are you sure its cancelling pensions? as in stopping those who have them? or is it stopping pensions? as in not doing them anymore?
     
  3. If they do STAND BY..We will march on DOWNING STREET...If our kit will get us there...Shit,Brown thought this one threw didnt he...
     
  4. 'Terms of service' spring to mind...
     
  5. Yes, as I understood it -stopping the pension, but paying what you have already accumulated. Those new in having to start their own private pensions
     
  6. I think you and I both know they don't mean an awful lot
     
  7. Well, thats me out then.
     
  8. I think you were asleep at the back!!!

    There are lots of rumours about pensions but, in general, the AFPS 05 should be OK for at least 15-20 years (the last one survived 30 years)!

    IMHO, the pension that is unaffordable is the Old Age Pension and I can see that being means-tested within 10-15 years.

    Litotes
     
  9. Anyone with any defo info...
     
  10. What - along the lines of "all you bstards who've contributed feck all can expect feck all state pension" etc etc. Or have I got that wrong?
     
  11. The State Pension has always been "unaffordable",I paid other peoples pension,now you can pay mine. :lol:
     
  12. Recruiting & retention my Arrse!
     
  13. I believe that pensions will change in the next few years. However, like when they brought in AFPS 05, you could stay on AFPS 75, and equally when we get AFPS 15 (for example), those on 05, or still on 75 should be fine. The point is, the AFPS (75 or 05) is pretty good in comparison to civvy street. Almost all Final Salary Pension Schemes have been stopped, and we will follow suit. I can see in time, our salary will not be deducted by the small amount it is which goes to our pension, and individuals will be more likely to take out private pension schemes. However, just my thoughts.
     
  14. 'IMHO, the pension that is unaffordable is the Old Age Pension'

    Litotes, what is unaffordable is the commitment to Public Sector Pensions, which is projected to be greater than GDP in a few years.
     
  15. Yes, you are right. However, I note that, AFAIK, public sector pensions are, at least, funded after a fashion by the organisation. For example, the Services' pension is paid for out of the Defence Budget but it is a number that is there and is carried forward on an annual basis. If the Board wants to spend £xbn on a new widget, it can only do so after ensuring that the money allocated to pensions (and salaries) has already been hived off.

    The Old Age Pension has no such line - it is paid when you hit 60 or 65 and it is paid out of current taxation. In fact, the Government is to reduce the contributions required to qualify for the pension from 2010.

    Litotes