HAVE YOU RECEIVED AN ANNUAL PENSION FORECAST YET ?

#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
agoodgrouping said:
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.
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!!
 
#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!!
 
#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:


SPVA
MP 480
Kentigern House
65 Brown Street
Glasgow
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.

Rodney2q
 
#8
IT_Guy said:
agoodgrouping said:
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.
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.
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!

PW
 
#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.

PW
 
#13
paywog said:
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.

PW
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.

PW
 
#15
paywog said:
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.PW
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:
 
#17
PW,

you are obviously far closer to the info than I am (or my soldiers) which is why I press the point that they (we) were promised an annual assessment to work upon. If the two pension forecasts already issued to individuals are suspect and the Internet Forces Pensions Calculator show incorrect financial information then how can anyone have absolute faith and trust in their entitlements (this is the largest financial decision/amount that will affect them).

I go back to my original point...we were meant to receive a print out showing the accurate, updated annual figures - so where is it ?

Re commutation - I will hold fire until I see the pension forecast, like all others should do, but I am fairly confident that it will contain a significant difference from that which many individuals anticipated.
 
#18
Same here had diddly squat and have you seen the lttle snippet of info the MoD released reference commutation IE: After 1 Apr 06 you can only commute 25% of all service after that date, slipped that in on a bad press day ????
 
#19
ted69 said:
Same here had diddly squat and have you seen the lttle snippet of info the MoD released reference commutation IE: After 1 Apr 06 you can only commute 25% of all service after that date, slipped that in on a bad press day ????
Is that for all commutations after that date, or is it only relevant to those joining after that date?

This government is making me sick. They might as well do away with the democratic process (for what it's worth as it stands) and herd our families into concentration camps, while we all live and work abroad for nowt but bread and water.

We were given the option to stay with the '75 pension plan, so most of us did. Now it seems not enough people joined the new scheme, so they're just going to backtrack and change old plans to suit their needs. Before long you'll have to wait until you're 90 before first pension payments are made.
 
#20
I seem to remember seeing some where during my Personnel days after leaving the forces that Annual Pensions Forecast should be made available by the employer. It seems once again HMG is not following it's own legislation. It appears (from the Kitchen Gestapo) that even the Cibil Service can access their info on line.

I have been trying to find out what I will be getting at age 55 for a year now and nobody answer's anything I send. I'll know myself in 1 month :D

It appears once again that our leaders know that we will just sit in the corner and have a little moan. I suggest a quick ping to your MP and you may be suprised at the responce one or two of you may recieve.
 

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