Ministry of Defence earmarks whopping £1.9BN to pay for Government pensions blunder

dan_brown

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THE Armed Forces will put aside almost £2billion to meet the costs of a Government pensions blunder. Ministry of Defence bosses have earmarked the cash to pay for the pension arrangements for some of Britain’s servicemen and women.

 
THE Armed Forces will put aside almost £2billion to meet the costs of a Government pensions blunder. Ministry of Defence bosses have earmarked the cash to pay for the pension arrangements for some of Britain’s servicemen and women.

Will apply across the whole of the CS, hopefully i will get back the pension rights i joined on, of note is that no corrective action is needed for MPs pensions
 

DITA

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Is this a victory for those of us with accrued 75 rights, being put on a pension scheme we didnt want?
 

DITA

MIA

Auld-Yin

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Be nice if they withdrew the age limit that was originally set. If you left before age 26 you got no pension. I knew nothing of that and as I pvr'd to move into a waiting job I left two months before my 26th birthday - had I known then I would have stayed the extra couple of months to qualify. The age limit disappeared very quickly but was not backdated to 1975 to the start of pensions so I have missed out on nearly 8 years pension. My final doc's said I had 7 years 200+ pensionable days from my 18th birthday, but no pension. It would be nice but I doubt it will happen.
 
Ironically enough, playing around with the pensions calculator, I would actually be worse off if I was moved from 75/15 to all 75 pension! I didn't transfer to from 75 to 05.

When they do sort out the options are going to be I think I'll be making maximum use of my AFPS membership to work out what is going to be best.
 
Will apply across the whole of the CS, hopefully i will get back the pension rights i joined on, of note is that no corrective action is needed for MPs pensions
How'd you come to that conclusion from the article? If there is no need for corrective action in their scheme that will be because all MPs were moved onto the new (worse) scheme at once, rather than some having grandfather rights to stay in the old scheme
 

seaweed

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Bang goes a frigate.
 
How'd you come to that conclusion from the article? If there is no need for corrective action in their scheme that will be because all MPs were moved onto the new (worse) scheme at once, rather than some having grandfather rights to stay in the old scheme
I'm a little lost with that i cannot see that a bill giving MPs a worse pension would have got past the house of commons, iirc even if they one served one term they got full rights, to me if your lose your seat because your shit at the job thats your fault
 
I'm a little lost with that i cannot see that a bill giving MPs a worse pension would have got past the house of commons, iirc even if they one served one term they got full rights, to me if your lose your seat because your shit at the job thats your fault
The MPs final salary scheme was, like the rest of the public sector, replaced with a less generous career average scheme (IIRC its ever so slightly worse than the CS scheme)
Its a myth that they get a full pension after 1 term. They would get ~5 years pension accrual which would be deferred until pension age
 
I don't know where they got £1.9Bn from.

The recent spending round gave the MoD £1.9Bn, of which £700m was reserved for pension shortfalls. To the best of my knowledge this was "new" money, and thus whilst there is an opportunity cost, it is not going to have to be balanced from within.
 

Auld-Yin

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