Discussion in 'Armed Forces Pension Scheme' started by agoodgrouping, Oct 22, 2007.

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  1. During the briefings last year on the two pension schemes we were told that we would receive an annual print out which would show the current value of our personal decision/forecast.

    I have not received mine yet - have you ?

    If not, was I alone in hearing this, or was in a local direction ?

    My understanding was it would give me a chance to check my decision on which scheme to join was accurately recorded by the MOD and it would give me an annual update on my benefits.

    I have heard some stories from people who have found themselves on a different scheme than they thought they had elected and I'd just like to check.
  2. Yes thanks, I have one every year showing me my annual benefit and lump sum payment if I peg it.

    Oh, hang on, that's because I'm a civvy now and its a civvy pension.

    I served 14 years and have never seen a pension statement and have been informed that if I don't contact the MOD when I'm 60 and prove who I am I won't receive my pension. efficient buggers arn't they.
  3. I can top that, after leaving school in'73, paying tax and NI since and recently retiring from me second career I went on a pre-retirement course. Part of that was financial and recommended asking the DWP for me OAP forecast. This I did and was told I can expect £85 a week when I reach 65. I think me bus pass will probably be worth more than that by then!!
  4. I get a weekly pension forecast (do it myself each Mon) gets me through to the end of the week!!!

  5. I remember reading on here somewhere that the annual thing is something JPAC are contracted to provide. I.E. One print out per year per pension scheme member. Probably the case that if you dont ask for one you wont get one, but are entitled to one per year.

    Sorry, cant find the link but it will probably be on here under the title "JPA Question (again)" or similar!!
  6. Do you have it on your wall as kind off a chuf chart??
  7. Hi folks

    I've recently enquired about my preserved pension and have been told to write to this lot for an update on the value of my preserved pension:

    MP 480
    Kentigern House
    65 Brown Street
    G2 8EX

    In addition, I saw something on the veterans website that said from 2008 all personnel will get an annual pension summary like the ones civvy pensions provide. Not sure if this applies to preserved pensions though.

  8. You wish!!

    65 at the moment and probably later with retirement age creep - unless of course you are a lady??
  9. Any preserved pension earned prior to 6 Apr 05 is payable at age 60 as IT_Guy said. Preserved pension earned since then is payable at age 65. In both cases this must be claimed by the individual!

  10. Something like that! - only 14 years to go!!!

  11. PW/Pmr & other Ex RAPC gurus,

    what do you think about the commutation restriction post-Apr 06 ?

    Why wasn't the Armed Forces Pensions Calculator properly programmed to show the accurate figures ?

    Why did the original hard copy (issued to all members of all 3 Services) not show this critical change ?

    Why have they not been issued with a revised forecast to reassess their decision ?

    Why have personnel not be re-briefed on this now by the CoC ?

    ......the AFPS was a SCRIPTED presentation from DSPS(A) and supported by PS 10 briefings...........why did noone think to meantion this in the script ?..............or is it something that they have only realised retrospectively ? (noone sacked obviously then)

    This is going to hit soldiers/NCOs hardest and it brings the entire pension election scheme into question and leaves it open to legal challenge.
  12. AGG,

    Whilst I totally agree with your sentiments on how this came in "under the Radar" - again!! There will be no effect on the vast majority of pers - it will not effect the amounts payable to any non commissioned pers at all - apart from the fact that they need to apply for their commutation whilst still in service which the majority do anyway.

  13. At what point do you need to apply, ive still got just over 2 years left, will this all come out during the resettlement bits in my last two years? Im due out the start of 2010 so from what you say it shouldnt affect me financially , will mylump sum be about the same, is that right :?
  14. Iron,

    Yes your lump sum will not be effected - you should get a pack from JPAC at least 6 months before your discharge - sorry termination! date with all the paperwork you need. Ensure you complete the pension/commutation claim form and return it - registered post isn't a bad idea!! things, in theory, should then work out OK - hopefully 2 years down the line the dust will have settled a bit! - you need to bear in mind that they work on getting your lump sums to you between 10 and 30 days from your last day of service - guess when you are most likely to receive it!! Make sure you aim off for this when it comes to any plans you will have for it.

  15. Cheers for the advice paywog, I dont really have any plans for the money because the wife and kids have lists of the priority items already :roll: