Not money saving exercise my arse.

Discussion in 'The NAAFI Bar' started by NRPS05_RIPOFF, May 28, 2010.

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  1. Yet again a non money saving excersise (apparently) sees members of the Ex regular and NRPS 05 community hit as the easy option, what a rip off, because I left on Pension 05 having changed for a better future for my family should anything happen, then having left before my 55 th B'day I am going to be punished, after 35 years service and leaving early I get the Pension 05 Early departure payment, happy with that, it was my choice to leave. However I then got a job as a NRPS on 05 contract and all was good until this new plan from the people sat in their comfortable towers. It now seems that they are planning (leaked document) to switch us all to FTRS on an abated pension, not a problem with that, but because I chose to leave giving only 35 and not a full 40 years of my life to the service they are now going to take my monthly early departure payment from me while I serve as a FTRS when the contracts switch over. This is a loss per month to me of nearly £1100. So over a 5 year FTRS contract that is £66k. I will also be expected to work at the same rate as those on the old pension scheme in receipt of their full or abated Pension 75 and do the same level of work. Where do people of the upper echelons get off on treating people who have given so much in such a bad way. I am my wife are disgusted that anyone could be treated so badly.
    Such comments from Staff officers as "not our problem" and "if we lose some good NRPS 05 people there will be FTRS to replace them".
    Keep up the fight and moral boosting comments!!! well done staff officers.
  2. I found this bit fascinating. Do you still qualify for MQs if you're married to yourself?

    All joking aside, nasty stuation you're in. I'd be less than impressed at losing so much cash every month if it was me.
  3. Affected in a slightly different way but the net result is the same!!! Out of pocket by around £1100 a month. The leaked document is nothing but a series of (very) weak justifications for abandoning the NRPS 05 scheme and saving money! When I started on the NRPS(05) scheme I fully understood and accepted that after 5 years I would have to recompete for my job. For the past 3.5 years I have worked my nuts off providing (what I consider) a first rate service for my unit, knowing that by doing so I would be bettering my chances of being recontracted for a further 5 year period. These so called "proposed" changes have pulled the rug from under me as I now find myself being financially forced out of the job. I will not transfer over as I cannot financially afford to do so.
    The document talks of a better pension scheme on FTRS.... so I investigated this by comparing the two TACOS over a 15 year period. If I want to surrender my regular army pension (around £600 per month) by taking the FTRS I will enhance my new pension by around £30 per month.... yep, a whole £30!
    The document talks of more flexibility on the FTRS TACOS.... more flexible only if you want to deploy...... many of us on NRPS welcomed the stability and accept the loss of X Factor as a result.
    Where is the equality with this? My current contract ends in 18 months. By then, the difference between my "capped" monthly salary and that of someone joining from the regular army will differ by around £12,000 a year... yet I suspect their job description will be exactly the same as mine though....
    Signed..... One very de-motivated NRPS(05)
  4. How many others out there will be affected by the
  5. Guns

    Guns LE Moderator Book Reviewer
    1. The Royal Navy

    Have you spoken to the Armed Forces Pension Society?
  6. Good point on being married to myself,two wives not good, of course it was written in anger, never a good idea without a read through before hitting the send button.
  7. Intouch with pensions to see what my rise at 55 will be, just to see how much more I will lose, but may follow up to society, Thanks for the idea