Pension commutation.

Discussion in 'Finance, Property, Law' started by Coiled_Spring, Feb 15, 2007.

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  1. Does anybody know how to work out what the commutation formula is for pension rates? This is assuming i remain @ OR6. Cheers!!
     
  2. Cheers Sparky.

    It must be one of the rare occasions when the website is actually working.I just have to convince the wife to not spend it all on a house extension.
     
  3. They had it linked from various sites, but i have always found that, that site works.

    Glad to be of assistance

    Sparky
     
  4. Thanks, Sparky, for a useful link.

    Litotes
     
  5. Your welcome, not much happening at work for me today anyway.

    Sparky
     
  6. I might be being a little thick here but I entered all the information and it put me on a summary page (what I had entered) with a finish/restart or back option that does not give me any figures but rather makes me start again?
     
  7. Did you tick the box at the bottom of the first page? My colleague failed to scroll down, and missed it, which stopped him with a similar fault to yours, later in the process.

    Litotes
     
  8. Just looked at mine. 1. Confirmed I was right to transfer to the new scheme. 2. France, here I come.
     
  9. Ned,

    Am i missing something here??
    Unless you've only just joined, how could you possibly be better off under AFPS05 as opposed to AFPS75?

    Having done the number crunching part it's just not viable.
    Assuming that you leave as an OR6 your IP payment would be 9367 pa. The lump sum would be 3 times that amount (28101).
    Under AFPS 05 you would get an EDP of 5414 and a lump sum of 32481.
    The difference between the two equates to 3953 pounds per year. Multiply this by 15 and you are left with a not to be sneezed at figure of £59295.
    Assuming of course that you reach your 65'th birthday then you can look forward to another payment of £32481. Where's the rest?????

    One would assume that as we are now being volunteered to go and fight in any US led conflict, our life expectancies are going to be very much reduced."God bless America"! Either that or cirrhosis of the liver will nail you first.Too many port fines i'm afraid.

    "Arte et Marte" :thumleft: