Nervous about the new DIN

#1
Just had a look at the new DIN, I'm now getting nervous. (DIN 01-063)
Due to leave in Jun 2016, which is obviously after the intro of the new scheme.

The way I have read the DIN it seems that the protection applies to those within 10 yrs of their NPA, which means if you are 45 on 1 April 2012 then you will remain on your current pension. Everyone else, un f*ckin lucky.

From what I've seen, my plans for my pension money have just been well and truly shattered.
 
#3
Id say you are lucky not to have been chosen for redundancy. Your pension acrued to the date of the change is protected. So stop blubbering and get on with it.
 
#4
Is 2015 confirmed as the start date or is that still open to question?
 
#5
Lucky? I would have cried tears of Joy if Id been chosen, like quite a lot of people who were. Damn shame my trade & class is bulletproof.

And yes 2015 is still the planned time frame.
 
#6
The Nurses union is balloting over the same issue now.
**** them and their 30k* a year pensions, what about us poor hero squaddies?


allegedly*
 
#9
Bottom Line - What you have built up prior to Apr 2015 is protected unless you have more than 10 years to serve on or after Apr 2015
True, however, what really makes me nervous is what else they decide to change between now and the change over date.
commutation changes maybe?
 
#10
Bottom Line - What you have built up prior to Apr 2015 is protected unless you have more than 10 years to serve on or after Apr 2015


WRONG

What you have buiilt up is protected regardless of how long you have served. If you have less than 10 to serve you ALSO get to stay on the old terms rather than switching to the new for your remaining service.
 
#11
Bottom Line - What you have built up prior to Apr 2015 is protected unless you have more than 10 years to serve on or after Apr 2015


WRONG

What you have buiilt up is protected regardless of how long you have served. If you have less than 10 to serve you ALSO get to stay on the old terms rather than switching to the new for your remaining service.
Negative Ghostrider, as I read it normal pensionable age in this case refers to 55th birthday. That's why anyone who is aged over 45 on 01st Apr 12 remains on the old scheme all others move over. I can't see any mention of pension commutation in the appendix; has this option been withdrawn completely for those under 45 on 01st of Apr?
 
#12
Spaz, exactly what has what you said got to do with what he said or my response to it?
 
#13
Spaz, exactly what has what you said got to do with what he said or my response to it?
This:

If you have less than 10 to serve you ALSO get to stay on the old terms rather than switching to the new for your remaining service.

If you are under 45 on the 01st of Apr 12 you WILL be transferred onto the new scheme.
 
#14
• Additionally, all members of Public Service Pension Schemes within 10 years of their Normal Pension Age on 1 Apr 12 will see no change to the amount of pension they will receive or the time at which it can be drawn.

• Members of AFPS 75 and AFPS 05 who are aged 45 or over on 1 Apr 12 will be able to remain on their current pension schemes and their benefits will be unaffected;
• All Service personnel who are aged under 45 on 1 Apr 12 will be automatically enrolled into new AFPS when the new scheme starts. Thereafter, any further pension rights they earn will be in the new scheme.
I believe you may have mistaken normal pensionable age as 22yrs served, when in fact the document is referring to your 55th birthday.
 
#15
I'm surprised the topic isn't all over Arrse! Probably due to the majority of users are eithet out the Army or civvies :)

Can anyone answer this Question with the Info from the new DIN;

I'm due to complete my 22 on Nov 14 (Before the Apr 15 cut off date) however I volunteered for VENG Short and I could stay in until Nov 16.

If I complete the VENG and get out Nov 16 will I see a significant drop in my Pension? Or should I get out before Apr 15 on the old terms?
 
#16
Spaz, thankyou for the clarity. I thought you post was all about commutation. I have now re-read it.

But I take it you are in accord with me when I say that however old you are and however long you have been in, the principle remains that pension accrued to date of changeover is protected.
 
#17
But I take it you are in accord with me when I say that however old you are and however long you have been in, the principle remains that pension accrued to date of changeover is protected.
BoaB, yes I agree, that's the way it looks to me. I raised the commutation issue as a seperate question as it isn't mentioned in the appendix and was wondering if it had been withdrawn. I should have started a new paragraph.
 
#18
It does say that what you have accrued will stay, so Im glad i only have a year under the new scheme, but what does worry me is the complete lack of reference to commutation.
Sometimes its what they dont say.

I'm sure that as time rolls on we will get more info, still going to start saving like mad though, which we havent been doing as yet. (and yes I know thats remiss of me)

Our plan is to emigrate, hence being worried about my lump sum getting smaller
 
#19
The Ministry of Defence and HM Treasury have reached agreement on the protection of accrued rights to Armed Forces Pension Scheme (AFPS) 75 and AFPS 05 pension benefits.






The agreement covers accrued rights to members of the Armed Forces Pension Scheme (AFPS) 75 and AFPS 05 pension earned by Service personnel prior to enrolment in the new AFPS to be introduced in 2015.

These rights will remain in place until the individual leaves the Services:

• Service personnel who are enrolled into the Future AFPS will have the value of the pension benefits they have earned up to the introduction of the new scheme protected

• This includes, where applicable, the Immediate Pension, the Early Departure Payment and Lump Sums

• These rights will remain in place until the individual leaves the Services. So benefits will remain payable at the time they were expected to be paid under the existing schemes and linked to final pensionable salary at the point of leaving the Services

• Once the new AFPS has been introduced, any further pension rights will be earned under the rules of that scheme.

As a result of this agreement, guidance on the accrued rights for members of AFPS 75 and AFPS 05, together with some worked examples, have been published today in 2012DIN01-063.

Further information on both accrued rights and the outline characteristics of the new pension scheme, can be found at the Question and Answer Document (see related links). This live document will be updated as further details of the design of the Future AFPS become available.

A Defence Internal Brief on the issue can also be found in Related documents.
 
#20
What worries me is that they say the MOD and Treasury have agreed to the new scheme however "The rules of the new scheme, including when pensions will be paid, are under development." So they've agreed to a new scheme without knowing what it's going to be?? Cnuts.
 
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