leaving the army at 12 years

#1
Can some please clarify as everything I've read contradicts the other,

To be entitled to half year pension at 12 years do you have to do 12 years first then sign off? ( so makes it more like 13 years)
Or can you sign off after 11 years 1 day as long as your discharged date is 12 years or late to be entailed to get the half pension??
 
#2
krnkat said:
Can some please clarify as everything I've read contradicts the other,

To be entitled to half year pension at 12 years do you have to do 12 years first then sign off? ( so makes it more like 13 years)
Or can you sign off after 11 years 1 day as long as your discharged date is 12 years or late to be entailed to get the half pension??
Considering you'll be thirty at your twelve year point - assuming you joined at 18 - the remainder of your working life will have much more impact on your pension rights at 65 than your Army one will. If you want to punch out then do it, a pension at 12 shouldn't be a big factor.

I left at 11 years 320 days on PVR and my Army pension is insignificant to my retirement.
 
#3
It's not really a pension, just a lump sum. You only get the imemdiate pension if you do 22 (or 16 if on the new pension scheme) .
 
#5
11 years and sign off. You'll have done 12 by the time you finish.
 
#7
I think you could have picked a better time to sign off, if I'm being honest. Are you doing this because you have a career path which the army can't help you to fulfil, or have you simply had enough of the bollocks?

Look before you leap.
 
#9
Ord_Sgt said:
krnkat said:
Can some please clarify as everything I've read contradicts the other,

To be entitled to half year pension at 12 years do you have to do 12 years first then sign off? ( so makes it more like 13 years)
Or can you sign off after 11 years 1 day as long as your discharged date is 12 years or late to be entailed to get the half pension??
Considering you'll be thirty at your twelve year point - assuming you joined at 18 - the remainder of your working life will have much more impact on your pension rights at 65 than your Army one will. If you want to punch out then do it, a pension at 12 shouldn't be a big factor.

I left at 11 years 320 days on PVR and my Army pension is insignificant to my retirement.
I don't know how much things have changed since I left in 1988 at the 12yrs and 45 day mark. All I was interested in at the time was getting my grubby paws on what was a lump sum of £3,800 at that time. (yeah, really!)
I wasn't remotely interested in pensions or anything to do with the future and started a new career.
Some time later (can't remember how long) I got a letter from records/pensions saying that I have a transfer value of 8 yrs 320 odd days to my new employers. As good as nine out of twelve in my book. They asked if I wanted to go ahead, let them know and if they hadn't heard by such a time they would just freeze it till god knows when.

If I hadn't done it, if I read what Ord Sgt saying is correct, It wouldn't have affected me much at 65. However, if you are in a position to take your accrued pension with you to your new job, it could be worth a small fortune in just contributions you didn't have to make and pay dividends in your final pension which will far outstrip the state one (which you will still get at 65)
To get your lump sum in my day you had to have done over 12 reckonable years. As I say, prob all changed but the 'time done' pension you have accrued on paper could be a blinding result in the future with the right job as it was in my case. Career number three loomin' for me ! :D
 
#10
krnkat said:
Can some please clarify as everything I've read contradicts the other,

To be entitled to half year pension at 12 years do you have to do 12 years first then sign off? ( so makes it more like 13 years)
Or can you sign off after 11 years 1 day as long as your discharged date is 12 years or late to be entailed to get the half pension??
Which pension scheme are you on?

If it is the 75 scheme, as I expect, then your clock starts on your 18th birthday unless you joined afterwards. Resign on your 29th birthday and leave on your 30th. You will then receive the 12 year payment (I can't remember what it is called).

Your pension will be 12/22 of the representative payment for your rank (your Pay Office can tell you the figure) payable at 60, IIRC, but don't quote me. Search t'web for AFPS75.

Litotes
 
#11
Litotes said:
krnkat said:
Can some please clarify as everything I've read contradicts the other,

To be entitled to half year pension at 12 years do you have to do 12 years first then sign off? ( so makes it more like 13 years)
Or can you sign off after 11 years 1 day as long as your discharged date is 12 years or late to be entailed to get the half pension??
Which pension scheme are you on?

If it is the 75 scheme, as I expect, then your clock starts on your 18th birthday unless you joined afterwards. Resign on your 29th birthday and leave on your 30th. You will then receive the 12 year payment (I can't remember what it is called).

Your pension will be 12/22 of the representative payment for your rank (your Pay Office can tell you the figure) payable at 60, IIRC, but don't quote me. Search t'web for AFPS75.

Litotes



am on old Pension scheme, want to sign off on 29th birthday which is 11 years and get on on 30th Birthday so u've helped lots cheers; That's what i wanted to hear
 
#13
krnkat said:
Will i be entitled to resettlement if i get out on my 12 year point (30th birthday)
My understanding is yes, but I can't find my resettlement documents. Go onto Armynet and the Resettlement button is top left.

Litotes
 
#14
You are entitled to the full resettlement package once you have done 6 years (number of days of resettlement depends on how many years past those 6 you have completed).

As for pensions, bollox to what any one on here tells you, get yourself on a Financial Aspects of Resettlement Briefing, you dont even have to be in resettlement to attend one, you can get details of times, dates and locations from your AEC. Everyone in the army seems to be an expert on pensions but 9 times out of ten they are talking about something that a friend of a friend of a friend told them in the bar a couple of months ago.

If you are that interested, do it right.
 
#15
Just a word from a very old bloke who never used to think too far ahead about pensions.
You will never have enough income once you are retired. That extra bit of bunce from a Service pension will be very much appreciated. If you leave now because you are fed up - they have won. Find a way to reconcile staying till the 22 point and make them pay you for bug*ering you about.
Civilian life is mega uncertain and 'good' civvie jobs can go bad at the drop of a hat. Your boss changes, the firm gets bought out or even goes bust.
Think on is what I would say
 
#16
OldRedCap said:
Just a word from a very old bloke who never used to think too far ahead about pensions.
You will never have enough income once you are retired. That extra bit of bunce from a Service pension will be very much appreciated. If you leave now because you are fed up - they have won. Find a way to reconcile staying till the 22 point and make them pay you for bug*ering you about.
Civilian life is mega uncertain and 'good' civvie jobs can go bad at the drop of a hat. Your boss changes, the firm gets bought out or even goes bust.
Think on is what I would say
What he said, in spades.
 
#17
As FF said you should take advantage of the brief from a qualified Financial Advisor, the chances are he we tell you to wait till your 60 and then apply for whats yours and not to turn it over to another pension scheme.
 
#18
elovabloke said:
As FF said you should take advantage of the brief from a qualified Financial Advisor, the chances are he we tell you to wait till your 60 and then apply for whats yours and not to turn it over to another pension scheme.



That's what I thought!!! I'll probably get a private pension scheme as bound to move jobs in the next 30 years
 
#19
OldRedCap said:
Just a word from a very old bloke who never used to think too far ahead about pensions.
You will never have enough income once you are retired. That extra bit of bunce from a Service pension will be very much appreciated. If you leave now because you are fed up - they have won. Find a way to reconcile staying till the 22 point and make them pay you for bug*ering you about.
Civilian life is mega uncertain and 'good' civvie jobs can go bad at the drop of a hat. Your boss changes, the firm gets bought out or even goes bust.
Think on is what I would say
I disagree - if you are good at what you do you can earn a fortune in civvy street. There's a veritable fortune to be had outside the Army.

I'm not advocating throwing away a pension but don't think for a second that the Army is the be all and end all of pensions. Its nice but I'm not betting my future on it.

If you base your old age on something underwritten by the government then you are a fucking moron.

Life does not end at 40, if you are looking at security jobs at the end of your Army career then you deserve all you get - or not......

Guys, at 40 you are just getting started...
 
#20
Ord Sgt - " I disagree - if you are good at what you do you can earn a fortune in civvy street. There's a veritable fortune to be had outside the Army."

Just to be pedantic - the very same applies to serving in HM Forces, 'good at what you do = good money'. I wouldn't claim to have been exceptional as a civilian worker after my 22 but I ended up with a posh sounding job title and salary with a very fine pension even though I started civilian employment at 42. I got what I did from starting off where a firm wanted exactly what I was following employment of consultants who basically said 'get a time served WOI for this admin job'
All I was offering our questioner was a bit of balance. Even as a director sitting in the back of my car being driven about there were times when I felt like chucking it and getting something else so wanting to leave for his reasons as stated is not unique.
 

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