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New Armed Forces Pension Scheme

#10
Yep, yer fecked either way, but with lube I reckon it won't hurt quite so much.
I'm on that 75 thing mate; kicks in in a few years, sooner if the medics make a balls-up of my rebuild, I've been checking recently. Not really entitled to an opinion here therefore, but it does rattle me to see the up and coming getting pumped at a time when their task is becoming more and more onerous.
 
#12
Daily Telegraph: "In an example given by the Forces Penesion Society, a lieutenant colonel who retires at 55 today will receive an immediate pensíon income of about £38,000 a year. But under the new scheme he would expect to receive less than £18,000 from the ages of 55 to J[he new state pension age of 67, when he would qualify for the £38,000 pension. This equates to more than £240,000 in lost salary."

BBC: "The Forces Pensions Society (FPS) said the forthcoming changes were a "very good deal" and "certainly not all bad news". "The MoD has done a very good job - under the consultation this is a very good job," Mr Marsh said."

I'm glad I invested £35 in the FPS because I had never before realised how losing £240,000 was a "very good deal" from people doing "a very good job".

With the FPS speaking for us, the public must think that we are mentally retarded. Who needs enemies?
 
#13
What the government have done as far as i see it, it the similar if you contracted out of pension, they will no longer contribute to the pension but "save" it for SERPS or whatever it will/is called now. so even though the wages were supposed to reflect in part the non-contributory pension, they have taken twice from us by keeping below par wages and reducing the pension.
 
#17
Still waiting to find out if ALL our pensions are now delayed until we are 60 (currently 55 on 75 system).

People who say they are not effected as they are due to leave need to read the small print (which is still hidden) I think we are all effected by this!
 
#18
One of the things that occured to me is that all of the pension 'experts' on the Career Transistion Workshop briefings etc are now saying that squaddies live to an average age of 78 years old which I believe greatly influences the policy makers to extend the pension age of 55 however, I believe that doesn't take into account the current generation who have been fighting proper hard core battles on multiple tours for much of the last 10 years. We have a generation of soldiers who have been tabbing about in extremes of temperature, carrying far more weight than previous generations and with many other arising problems such as deafness and mental health problems. I believe the current generations life expectency may actually buck the perceived longer lived trend. Personally, having done 25 years of service I would be gobsmacked to get much past 60!
 
#19
Still waiting to find out if ALL our pensions are now delayed until we are 60 (currently 55 on 75 system).

People who say they are not effected as they are due to leave need to read the small print (which is still hidden) I think we are all effected by this!
FFS!

Try reading the documentation that has already been published. http://www.mod.uk/NR/rdonlyres/B618...73/0/afpc_outline_design_updated_01082012.pdf

The very last paragraph of the foreword (below) by Hammond states clearly that existing pensions are not affected.

I believe that the new pension scheme continues to recognise and reward the unique
commitment which all Service personnel make to the defence of the Nation by remaining
amongst the very best available. All existing pension benefits earned up to the start of the new scheme are guaranteed – they will be protected. No-one will be asked to pay personal contributions to the new scheme.


The Terms and Conditions are still being developed, but will not affect anything earned up to the point that personnel switch to the new scheme.
 
#20
"The MOD apologises for the earlier mistake of naming the MOD pension scheme to be adopted from 1 April 2015 as the "New Armed Forces Pension Scheme' and has reverted it back to the original working title of 'Tranche 5 Redundancy'"

Army of less than 82k anyone?
 

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