old pension

#1
just been talking in the mess and was told by an officer that saw this topic on the armynet, it said that from mar 2008 those that stay on the old pension will have there monthly pension payments defered, so that means i leave the army at 40 after doing 22 years and get my lump sum but have to wait god knows how many years to get the monthly payments. legally can they do this as ive only stayed in the army after the 12 year point just for the pension. if this is true how many of us with only a couple of years to do will leave early.
 
#2
cakenarse said:
just been talking in the mess and was told by an officer that saw this topic on the armynet, it said that from mar 2008 those that stay on the old pension will have there monthly pension payments defered, so that means i leave the army at 40 after doing 22 years and get my lump sum but have to wait god knows how many years to get the monthly payments. legally can they do this as ive only stayed in the army after the 12 year point just for the pension. if this is true how many of us with only a couple of years to do will leave early.
Its crap. That would be changing the terms of the pension, which they cant do.

Boney
 
#4
shandyswiller said:
boney_m said:
cakenarse said:
just been talking in the mess and was told by an officer that saw this topic on the armynet, it said that from mar 2008 those that stay on the old pension will have there monthly pension payments defered, so that means i leave the army at 40 after doing 22 years and get my lump sum but have to wait god knows how many years to get the monthly payments. legally can they do this as ive only stayed in the army after the 12 year point just for the pension. if this is true how many of us with only a couple of years to do will leave early.
Its crap. That would be changing the terms of the pension, which they cant do.

Boney
when did that small little matter ever get in the way of saving a few bobb :roll:
You've got a point. I'll shut the fcuk up and get back in me box. I'm relying on those monthly pension payments for my mortgage. Its probably too much to expect what i signed up for. Never mind, a retirement of poverty awaits.

Boney
 
#5
Your immeadiate pension cannot be defered. Only the new pension scheme will lose the Immeadiate Pension.

Saw an excellent pension brief by General G from the Pension society the other day where this was all explained. I now have a very clear picture of what each one will deliver. If you can I recommend you every effort to get to one of their briefs.

I think your source has got his wires crossed between the old and the new pension.
 
#6
What the aformentioned Rupert was discribing was changes to the prserved pension system for those who leave without an IP/EDP. They will have part of that preserved pension paid at age 60 and the remainder at 65.
 
#7
I have given the new pension brief to personnel in my unit. If you elect to stay on the current (read old) pension, then no changes will happen to your pension. Only those electing to transfer to the new AFPs 2005 will be affected by the changes..
 
#8
Mad,

Thats not quite true I'm afraid. There is one change to AFPS75 that will impact on those going out with a Preserved Pension. For those who go out after 6 Apr 06 with a Preserved Pension the following will occur

Preserved Pension earned between their 18/21 birthday and 6 Apr 06 will be paid when they are 60.

Preserved Pension earned between 6 Apr 06 and their ROD will not be paid until they are 65.

See your Paymaster for details.
 
#11
shandyswiller said:
Balkanexpress said:
Just been reading Soldier Mag and they say that www.mod.uk/issues/pensions is where you can find all you want on pensions. A pension calculator will also be available on 18 Jul....
you mean the spin?
Of course it is spin...what I don't understand (as a bloke said in soldier magazine) is why can't the system tell us what is the best option for soldiers. All it will take is a few scenario based examples which at the end of the day say...if this is the case... then transfer...otherwise you are best staying with the old one etc.

My view is that nothing introduced today (at a time where the systems is out to save money) will ever be as good as the old system...but is this right?

Discuss...................
 
#12
It all depends on your personal circumstances. When will you serve to (40 or 55?), what rank will you be, do you have a trade/skill that will get you a good job in Civ Div, are you married or do you have a same sex partner? All these things and other variables will decide which is best for you.
 
#13
Am now confused. Will see my beloved RAO (who will no doubt refer me to somone else) but grateful for Paymaster to explain the Apr 06 timeline.

I am due to leave in Jun 06 (one of the lucky redundancy punters). My gap is minimal. Does it mean that I "lose" payment for the three months for 5 years?
 
#14
ITC, If you are referring to a future Preserved Pension then the answer I think is Yes, that very small part of your Preserved Pension will be paid when/if you reach 65.
 
#16
Not sure if I posted this before Bit I read a briefing note that on the New scheme, Despite still paying NI Contributions you will not get a state pension. Can this be confirmed?
 
#17
shandyswiller said:
Not sure if I posted this before Bit I read a briefing note that on the New scheme, Despite still paying NI Contributions you will not get a state pension. Can this be confirmed?
Nope, totally untrue. Of course, that's no reason not to carry on spreading it :D
 
#19
shandyswiller said:
are you sure?
I'm working on the basis this isn't a wah.

Both AFPS 75 and 05 are unrelated to the primary state pension, and your eligibility to one will be determined irrespective of your entitlement to the other. If you have paid sufficient NI contributions (based on number of years, rather than an actual amount) then you will get the basic state pension whether or not you qualify for a military pension. Both must be taken into acount when working out your tax liability, as with any other income you receive at the time. The area in which there is a tenuous connection is in your entitlement to benefits over and above the basic state pension: In general, your military pension will count as income when working out whether you are entitled to further payments on top of the basic state pension but, of course, this is the same for any occupational pension, and is not peculiar to the military.

Don
 

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