NTT at 12 year point, what am I entitled to?

#1
Ok, the usual has happened, over easter leave I am filled with thoughts and desires for civvy life. It probably wont happen just yet but...

I just have a couple of questions really..

Have served 12 1/2 years, currently a full screw. Is there any form of pension? I am on AFP 1975

What resettlement options/packages do I have?

Thanks for any help 8)
 
#2
Looks like you might not have a choice, 12 year pinch point and all that.
 
#3
Are you Qual to Sgt? If you pull out after 12 years you get around £8000 odd resettlement lump sum. and the normal termination benefits. Your pension will kick in until you reach your 55.
 
#4
kennys-go-nad said:
Are you Qual to Sgt? If you pull out after 12 years you get around £8000 odd resettlement lump sum. and the normal termination benefits. Your pension will kick in until you reach your 55.
Oh I see, so that £8k is your resettlement grant so to speak? to use for courses.
 
#5
no, your resettlement money for courses is £534.
 
#6
Filbert Fox said:
no, your resettlement money for courses is £534.
Ouch!
 
#8
kennys-go-nad said:
Are you Qual to Sgt? If you pull out after 12 years you get around £8000 odd resettlement lump sum. and the normal termination benefits. Your pension will kick in until you reach your 55.
Just to add, only pension earned on AFPS 75 will be deferred and paid at 55. I.e. that earned up to 05 Apr 05. Your pension earned after that will be deferred on AFPS 05 rules and therefore be paid when you are 60.
 

oldbaldy

LE
Moderator
#9
Bukem said:
kennys-go-nad said:
Are you Qual to Sgt? If you pull out after 12 years you get around £8000 odd resettlement lump sum. and the normal termination benefits. Your pension will kick in until you reach your 55.
Just to add, only pension earned on AFPS 75 will be deferred and paid at 55. I.e. that earned up to 05 Apr 05. Your pension earned after that will be deferred on AFPS 05 rules and therefore be paid when you are 60.
AFPS 75 preserved pension kicks in at 60.
The age 55 comes in for those who have already collected their pension.
AFPS 75 Preserved Pensions
 
#10
oldbaldy said:
Bukem said:
kennys-go-nad said:
Are you Qual to Sgt? If you pull out after 12 years you get around £8000 odd resettlement lump sum. and the normal termination benefits. Your pension will kick in until you reach your 55.
Just to add, only pension earned on AFPS 75 will be deferred and paid at 55. I.e. that earned up to 05 Apr 05. Your pension earned after that will be deferred on AFPS 05 rules and therefore be paid when you are 60.
AFPS 75 preserved pension kicks in at 60.
The age 55 comes in for those who have already collected their pension.
AFPS 75 Preserved Pensions
My bad you are correct, AFPS 05 preserved part is at 65. AFPS 75 part at 60.
 
#12
Bukem said:
kennys-go-nad said:
Are you Qual to Sgt? If you pull out after 12 years you get around £8000 odd resettlement lump sum. and the normal termination benefits. Your pension will kick in until you reach your 55.
Just to add, only pension earned on AFPS 75 will be deferred and paid at 55. I.e. that earned up to 05 Apr 05. Your pension earned after that will be deferred on AFPS 05 rules and therefore be paid when you are 60.
I thought the two were exclusive? If you are on AFPS75 then those rules apply to the end of your career, regardless.

If you are on AFPS05 then those rules apply. I haven't signed anything that said I didn't mind them mixing and matching pension schemes, as I understood it I signed to say I was staying under the old rules.
 
#13
Only if you have signed on the dotted line to change to the AFPS 05 from 75. If you did not your still on the 75. The problem with 05 is it is not protected by an act of parliament, This means the rules can be changed fairly quickly. Unlike the previous AFPS 75 where the Government needed to jump though hoops to change it. sly buggers. :policeflat:


DannyBoy, where did you get the latest figures for that please.
 
#15
With all the policies changing all the time, can anyone give me an accurate update to this?

No personal circumstances have changed since I originally posted, other than I am a little more 'threaders' with Army :)
 

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