Future of the Armed Forces Pension Schemes

Discussion in 'Army Pay, Claims & JPA' started by salopstick, Sep 7, 2010.

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  1. firstly sorry if posted but i had a look and could not find it

    has anyone seen the letter from the AG on a review of pension schemes that are taking place.

    No link but in outline:

    1. A review of public sector pensions is ongoing.
    2. Pensions accumulated by service personnel under the existing AFPS will be protected.
    3. The Independent Public Sector Pensions’ Commission (IPSPC) will include an Officer from the Armed forces.
    4. An interim report will be published by 30 Sep, with the final report released in time by the budget 11.
    5. It is unlikely any measures recommended will be implemented in the next 2 years.

    being no expert i am just wondering with 4 years to push that my AFPS 75 is safe
     
  2. Having just posted in the int cell on a related topic, I can confirm that I haven't seen a ******* thing. Where did you get the outline? Given the emotive nature of the subject you would think there would be a better scale of communication in regards to the subject.
     
  3. Did you miss this bit from your 'source'?
     
  4. Already partially kicked into touch by the announcement of a change from rpi to cpi uprating annually
     
  5. The talk in the Mess last week was that instead of pegging AFPS 75 pensions to the RPI/CPI, they would be pegged to the Bank of England Base Rate instead!

    Berlin
     
  6. I saw the info which Salopstick posted the other day. Whilst I take comfort in the comment that all sontributions made up to now are protected, would it be possible for them to change when those payments are paid. For example, your AFPS 75 pension pot is secure, but you may not receive it at the time you currently expect. I hope not, but I am sure we are going to get shafted over pensions one way or another.
     
  7. vauxhall

    vauxhall Sponsor

    They would have to do it in the same sort of way as they did the change to preserved pension ages in AFPS 75 (age 60 for benefits earned before the date of the change and age 65 for those earned after the date of the change). That assumes, of course, that the changes planned are age or contribution related. The Forces Pension Society is working on behalf of Service personnel to ensure that the Hutton Review takes into account the unique nature of military service and that the best possible outcome is achieved for AFPS members.
     
  8. TheresaMay

    TheresaMay LE Moderator DirtyBAT

    So can anyone, in simple terms explain it to me (like I'm a child if need be), what it all means?

    Has anything been decided or is it all speculation and rumour?


    PS - And while you're at it, does anybody know if we're getting paid a week early at the end of 2010?