Pension on divorce

Discussion in 'Armed Forces Pension Scheme' started by Bottleosmoke, Feb 7, 2007.

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  1. Can anyone send me a link to a site where it states that after 22 years colour service, I will be in receipt of an immediate pension?

    Im going thrugh an amicable divorce and am willing to pay, my soon to be ex, a part of my lump sum.
    Ive gone through the pensions dept and paid for my forecast however her solicitors dont understand it to be honest.
    Im not paying pensions dept again, so can anyone help with a link? I can then refer to it in a letter which I am draughting as I browse.

    Cheers guys and gals.

    Immediate Pensions. Officers may receive an immediate pension on discharge once they have completed 16 years’ reckonable service from the age of 21. Soldiers may receive an immediate pension on discharge once they have completed 22 years’ reckonable service from the age of 18. The level of pension in both cases would represent approximately 30% of the salary for the rank of the individual officer or soldier. A gratuity of three times the annual rate of pension awarded is payable in all cases. If you are eligible to receive an immediate pension, you can also opt to give up a portion of your pension in return for a lump sum - this is known as resettlement commutation. Commutation is, however, a privilege and not a right and you must apply for it before you are 55.
  3. many thanks.
  4. I have PM'd you with some further advice, I hope it is of some use.
  5. If your divorce is so amicable, why is your ex´s lawyer doubting the honesty of the forecast? The forecast is very detailed, which is why it costs so much. I can´t think of any other source that would be able to satisfy a doubting lawyer. My advice is to try and pay your ex off with anything except the pension. It´s a gamble, but if you live for another 40 years, that´s a lot of money she´ll have copped. I´ve been there and managed to come out with mine in tact, but gave up more in other areas (share of house). Divorce is very personal and I´m sorry if I sound like I´m interferring in something that is none of my business. Good luck.
  6. If the divorce is amicable,why have a solicitor at all? they burn up your joint money pot at an alarming rate and are totally unnecessary.
  7. Sounds like your soon to be ex-missus has the £££ signs in her eyes. How long do you have left to serve? Do you expect to be promoted between now and getting out; and if so, how many times? Your wife should not be entitled to any part of any increases in your pension due to these circumstances because you will not be together while it happens.

    If it is an amicable settlement then come up with a definate figure and pay her it NOW!!! Protect your pension with your life.