Monthly preserved pension amount under AFPS75

#1
Hi there am after some help please.

I will get a monthly preserved pension at 60 plus a lump sum of three times the final value all been confirmed by SPVA.

What I am trying to find out is how is the monthly sum received worked out. Despite talking to SPVA the answer is not forthcoming all they have sent me is the current valuations.

Is it a simple matter of the final pension value divided by 12 (months)?

Many thanks
Charging Lancer
Once a lancer always a lancer
 
#2
Hi there am after some help please.

I will get a monthly preserved pension at 60 plus a lump sum of three times the final value all been confirmed by SPVA.

What I am trying to find out is how is the monthly sum received worked out. Despite talking to SPVA the answer is not forthcoming all they have sent me is the current valuations.

Is it a simple matter of the final pension value divided by 12 (months)?

Many thanks
Charging Lancer
Once a lancer always a lancer
Yes it is - paid each month on the 20th or the last working day before the 20th.
 
#4
Hi there am after some help please.

I will get a monthly preserved pension at 60 plus a lump sum of three times the final value all been confirmed by SPVA.

What I am trying to find out is how is the monthly sum received worked out. Despite talking to SPVA the answer is not forthcoming all they have sent me is the current valuations.

Is it a simple matter of the final pension value divided by 12 (months)?

Many thanks
Charging Lancer
Once a lancer always a lancer
The pension is paid approximately one month after your 60th birthday and it is approximate. But, once the date in the month has been decided, it will always be paid on that date unless (as Donny rightly says) the date falls on a weekend or public holiday, in which case it is paid on the working day before the due date.

About how it is paid, you are right, the yearly amount is divided into 12 payments. If you are still working, remember that you can only have one personal tax allowance, so make sure that Equiniti Paymaster do not give you another.
 
#5
The pension is paid approximately one month after your 60th birthday and it is approximate. But, once the date in the month has been decided, it will always be paid on that date unless (as Donny rightly says) the date falls on a weekend or public holiday, in which case it is paid on the working day before the due date.

About how it is paid, you are right, the yearly amount is divided into 12 payments. If you are still working, remember that you can only have one personal tax allowance, so make sure that Equiniti Paymaster do not give you another.
but you can split your tax code my war pension needs none .........enough is given to paymaster to cover service pension rest is spread between other pensions as I get personal tax code plus blind allowance after first year of splitting tax man just shares increase each year
 
#6
I recieved a pension forecast afps75 as 60 the other week is this what i will get or is it normally lower, and how long will my gratuity take
 
#7
Where can you write to , to find out when and how much your pension will be.
I was in from 1982-1991 came out as a corporal.

Since leaving I live in Germany, if I was to get an early state pension in germany due to having a
heart attack, can I claim to get an early army pension aswell?

cheers for any replys
sorry for bumping the thread
 
#8
What date did you leave? If you give me the date I will tell you what to multiply it by to get its current value.

If you are unable to work full time due to disability, and the prognosis is that the condition will continue until you are preserved pension age, you can apply to have your preserved pension and lump sum early. Contact Veterans UK. You will be required to submit medical evidence for their medics to consider but, if approved, your pension and lump sum is payable immediately, and is increased by CPI each year going forward.
 
#11
Left in Apr 1991
I dont know where the paper with the sum is any more but
it was just over 1400 if I remember righlty.



Also

If I shouls die, what would my wife get?

Thanks
 
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#12
If you left between the 1 and 21 April 91 you multiply by 1.925156. If it was between 22 April and 21 May 91 you multiply by 1.918868. These multiplication factors come from a government produced table.

If you were to die your wife would get half of your pension.

I hope this helps.
 
#14
Got a reply from the link above today
DBS JPAC Enquiry Centre

They said you can apply in writing or fill an attached form

AFPS 14 ( a 1 page version of the AFPS 13)

and send to

Pay & Pensions Process Team
Mailpoint 335
Kentigern House
65 Brown Street
Glasgow
G2 8EX

also
any enquiries can be sent to

DBS JPAC EC

DBS JPAC Enquiry CentreMilitary Personnel & Veterans UK
Defence Business Services

Telephone +44 (0) 141 224 3600 | Military 94560 3600 | Free 0800 085 3600

Kentigern House 65 Brown Street Glasgow G2 8EX

They will provide information and any application forms that may be needed.

Thanks for all replies and I hope these addresses and numbers may help others.
 
#16
If you left between the 1 and 21 April 91 you multiply by 1.925156. If it was between 22 April and 21 May 91 you multiply by 1.918868. These multiplication factors come from a government produced table.

If you were to die your wife would get half of your pension.

I hope this helps.
Hi, wonder if you can give me some advice, my work colleague and I are both in receipt of Army pensions after 22 years service, we both commuted the maximum that we could and understand that our yearly pension will not increase until aged 55. What increase are we likely to see at age 55, my colleague seems to think that it will almost double? I find that a bit much.


Wets.
 
#17
Hi, wonder if you can give me some advice, my work colleague and I are both in receipt of Army pensions after 22 years service, we both commuted the maximum that we could and understand that our yearly pension will not increase until aged 55. What increase are we likely to see at age 55, my colleague seems to think that it will almost double? I find that a bit much.


Wets.
The element you commuted goes back in and the whole lot gets uprated by the last 14 (or so, depending on when you joined) years' worth of inflation. At a rough guess you'll get about half as much again. You should get a letter some 6 months before your birthday.

I got the letter but I had to remind them to start paying the new amount.

The uplift tables are here:

https://www.gov.uk/government/publications/public-service-pensions-increase-2014

You will need to know what your pension would have been without any commutation, if you have kept that letter.

eg if you left 10 years ago (Aug 04) the uplift is 1.3453 of your whole uncommuted pension. If you're still several years away from 55, then you'll have to guess what inflation is going to do in the interim.
 
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#18
Hi, wonder if you can give me some advice, my work colleague and I are both in receipt of Army pensions after 22 years service, we both commuted the maximum that we could and understand that our yearly pension will not increase until aged 55. What increase are we likely to see at age 55, my colleague seems to think that it will almost double? I find that a bit much.


Wets.
Send them a letter and they should tell you. My Chief of Admin (the wife) writes every couple of years on the dot to get an updated quote just to make sure they remember me ............... I had asked for a copy of my service record and was basically sent a letter agreeing I had served, when asked if this was all they had they bleated about changing the systems a couple of times since I had left so data had been lost. So just to be safe for the pension we check every couple of years and keep the response on file.
 
#19
Hi, wonder if you can give me some advice, my work colleague and I are both in receipt of Army pensions after 22 years service, we both commuted the maximum that we could and understand that our yearly pension will not increase until aged 55. What increase are we likely to see at age 55, my colleague seems to think that it will almost double? I find that a bit much.


Wets.
Mine did over 90% but not 100%

Archie
 
#20
Wets,

There is a spreadsheet created by chris951 at post#9 in the following thread
http://www.arrse.co.uk/community/threads/pension-increase.107740/
Plug your details into the spreadsheet and it should give you a rough indication of your pension.
Don't forget that we went from using the September RPI for the following years increase to using the September CPI for the following years increase in 2010. The link to the RPI/CPI figures no longer works but you should be able to find them (I'm sure someone posted a few years worth on another thread.


If you took full commutation when you left, at 55 your pension will increase by approx one third plus the index linked percentage increase.
Shiny
 

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