Pension Calculator

Discussion in 'Armed Forces Pension Scheme' started by cherryviper, Jun 4, 2013.

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  1. Anyone managed to get passed page 5 on the new pension calculator? just keeps taking me back to the beginning.
     
  2. Brotherton Lad

    Brotherton Lad LE Reviewer

    I believe it's called the New Employment Model. It's going to save the Army a fortune.
     
    • Like Like x 1
  3. I've just tried and it throws me out at page 5 too...
     
  4. Just tried again, seems to work alright if you expect not to promote between now and your retirement date!

    I wonder if it is trying to tell me something :)
     
  5. Just had a look at what I'll be getting when I leave in 2020, then redid the calculation but rewinded everything by five years as if that is when my 22 would be up.
    The b@stards are screwing me out of 2k every year!!!
     
  6. Doing the before and after calculations for Apr 2015 doesn't seem the throw up that many differences. Thought it was meant to be more doom and gloom.

    Does the index linked uplifts still happen at 55 on the '15 pension?

    Would it benefit anyone (more than the pennies in two days service) to leave the day before 01 Apr 15 or a day after?
     
  7. Just to confirm that pension increases to still happen at age 55 in AFPS 15. If you take the AFPS 15 element at age 55, remember that it will be reduced by the actuary to take account of it coming into payment early.

    Leaving a day or two before 1 April 2015 could affect your AFPS 75 pension in two ways:

    First, the pension codes normally run from 1 April to 31 March each year. If there is a pay rise for 2015, the pension codes will rise and you will not get the benefit of the higher rates.

    Second, pension increases are proportionate in the first year and, when compounded, it works out better to leave in early April than any other time of the year.
     
  8. Is there any way of seeing what my pension will rise to when I get to 55?
    I retired in 05 aged 42.
     
  9. Brotherton Lad

    Brotherton Lad LE Reviewer

    Depends on inflation between now and then and how the Govt choses to measure it.

    I also left aged 42 and my uplift at 55 was about 80% (about 50% points of that was 13 years' worth of inflation and the other 30 points down to the restoration of the full pension since I'd gone for full commutation on leaving). I was on the 75 scheme.

    You can track it each year here:

    http://www.hm-treasury.gov.uk/tax_pensions_increases.htm

    Your current 'bonus' is in this bit (then add back any amount of annual pension you commuted):


    [TABLE="width: 523"]
    [TR]
    [TD]27-Jan-05[/TD]
    [TD]to[/TD]
    [TD]26-Feb-05[/TD]
    [TD]1.2933[/TD]
    [/TR]
    [TR]
    [TD]27-Feb-05[/TD]
    [TD]to[/TD]
    [TD]26-Mar-05[/TD]
    [TD]1.2900[/TD]
    [/TR]
    [TR]
    [TD]27-Mar-05[/TD]
    [TD]to[/TD]
    [TD]25-Apr-05[/TD]
    [TD]1.2866[/TD]
    [/TR]
    [TR]
    [TD]26-Apr-05[/TD]
    [TD]to[/TD]
    [TD]25-May-05[/TD]
    [TD]1.2839[/TD]
    [/TR]
    [TR]
    [TD]26-May-05[/TD]
    [TD]to[/TD]
    [TD]25-Jun-05[/TD]
    [TD]1.2810[/TD]
    [/TR]
    [TR]
    [TD]26-Jun-05[/TD]
    [TD]to[/TD]
    [TD]25-Jul-05[/TD]
    [TD]1.2783[/TD]
    [/TR]
    [TR]
    [TD]26-Jul-05[/TD]
    [TD]to[/TD]
    [TD]25-Aug-05[/TD]
    [TD]1.2754[/TD]
    [/TR]
    [TR]
    [TD]26-Aug-05[/TD]
    [TD]to[/TD]
    [TD]25-Sep-05[/TD]
    [TD]1.2726[/TD]
    [/TR]
    [TR]
    [TD]26-Sep-05[/TD]
    [TD]to[/TD]
    [TD]25-Oct-05[/TD]
    [TD]1.2697[/TD]
    [/TR]
    [TR]
    [TD]26-Oct-05[/TD]
    [TD]to[/TD]
    [TD]25-Nov-05[/TD]
    [TD]1.2670[/TD]
    [/TR]
    [TR]
    [TD]26-Nov-05[/TD]
    [TD]to[/TD]
    [TD]25-Dec-05[/TD]
    [TD]1.2641[/TD]
    [/TR]
    [TR]
    [TD]26-Dec-05[/TD]
    [TD]to[/TD]
    [TD]25-Jan-06[/TD]
    [TD]1.2613[/TD]
    [/TR]
    [/TABLE]
     
  10. Cheers. That's helpful
     
  11. I like the calculator - it gives me the warm fuzzy feeling when I see how much I'm getting for spending a quarter of a century pi$$ing it up in all corners of the globe.
     
  12. chris951 produced a very useful Excel doc at post #9 in this thread http://www.arrse.co.uk/armed-forces-pension-scheme/107740-pension-increase.html

    It's fairly easy to put your own details in (I managed it OK) and it gives you an idea of the increase you are likely to get.
    The link for the RPI/CPI no longer works but thos can be found here Retail Prices Index and Consumer Price Index

    Don't forget the change from RPI to CPI from Apr 2011, using the figures from September the previous year.

    Shiny