Pension Question

#1
My last day of service is Thu 20 Nov 08. When can I expect to get my lump sum and when will my first pension payment be? I have heard nothing from APC which is typical of them!
 
#2
I got my lumps sum on the day after my last day in service, my first pension payment was about a month later and is paid on that day every month. I also had a paychit for outstanding pay about a fortnight after I left. I had exactly the same problem as you, after phonng JPAC I received the square root of zero by way of info. I believe the party line is that your lump sum can take anything up to 10 working days from your last day.
 
#3
chieftiff said:
I got my lumps sum on the day after my last day in service, my first pension payment was about a month later and is paid on that day every month. I also had a paychit for outstanding pay about a fortnight after I left. I had exactly the same problem as you, after phonng JPAC I received the square root of zero by way of info. I believe the party line is that your lump sum can take anything up to 10 working days from your last day.
Cheers. The Mrs was starting to panic cos I don't start my new job till a couple of weeks after I leave.
 
#4
The rules that govern pension payments is that it must be paid within 30 days, as long as you have completed the correct paperwork (AFPS 1) I think. It is normally paid within 10 days though. Your pension is paid monthly in arrears so expect your first payment about 20 Dec, it will remain like that for the rest of your life.
 
#5
Depends if you have ticked all the boxes and crossed the Is and dotted the Ts...

Me flash to bang 15 days after last day of service, your pension monthly payment starts the following month of your last wage...

Mate of mine 2 months later, he rang them, forms filled out wrong and they hadn't sent them back....

Moral of story fill out paper work and ring them to check its arrived and done in the right colored ink...

That reminds me I must book a resettlement interview with the monocled mutineer ........

Edited to add drugs and dreadlocks are farkin great
 
#6
Harry_Webster said:
Depends if you have ticked all the boxes and crossed the Is and dotted the Ts...

Me flash to bang 15 days after last day of service, your pension monthly payment starts the following month of your last wage...

Mate of mine 2 months later, he rang them, forms filled out wrong and they hadn't sent them back....

Moral of story fill out paper work and ring them to check its arrived and done in the right colored ink...

That reminds me I must book a resettlement interview with the monocled mutineer ........

Edited to add drugs and dreadlocks are farkin great
They actually acknowledge receipt on a little tear off bit of the form. Just had mine back - although I had missed a bit of the form, they sent it back to me with a letter, seems quite efficient at the moment (only time wll tell), although I am not out until Feb 09, so am ahead of the game - in my diary to phone them last week of Nov!
 
#7
Hi All,

Quick question regarding lump sum and final pay.

Is your final pay lumped in with the lump sum or does it come later? Got my lump sum but know idea on the final pay aspect but the lump sum seems a little 'odd', possibly a bit more than expected which means I not desperately keen on phoning Glasgow. :wink:

Cheers, BTF
 
#8
Allegedly the AFPS 1 Form comes with your release paperwork whihc you should get 9 months prior to Discharge and you complete it and send it in yourself.

Failing that go and see your HR Admin about 6 months before discharge and get them to print one off (JPA & SPVA Forms is where it is at).

Then send it all off and that will be in plenty of time for them to acknowledge receipt then you know at least that bit is done correctly.

hope this helps

:D
 
#10
My lump sum arrived 10 days after my final paid day, my monthly pension started on the 5th of the next month, and as told in my Financial Aspects of Resettlement Briefing it has arrived on the 5th of every month since.
 
#13
I have been transfered to the new pension scheme after rejoining, had an 11 year preserved pension and am adding it on to new scheme currently at 14 year point in my career. do i still get an immediate pension at my 22 year point? edp payments? used the pension calculater on army net $37,416 and annual $6860, do I get a lump sum paid to me and do I get a monthly payout? i like things nice and simple and thats all I need to know. also does anyone know if at the 18/40 year point I know it's half your pension but do you still get the lump sum and monthly payouts? I am infantry like things simple.
 
#14
daylightshrubbery said:
Allegedly the AFPS 1 Form comes with your release paperwork whihc you should get 9 months prior to Discharge and you complete it and send it in yourself.

Failing that go and see your HR Admin about 6 months before discharge and get them to print one off (JPA & SPVA Forms is where it is at).

Then send it all off and that will be in plenty of time for them to acknowledge receipt then you know at least that bit is done correctly.

hope this helps

:D
HR Admin, lol, you make it sound so professional, you MUST be RAF
 
#15
Hi,

Ended up having to phone Glasgow. Crux is they deducted my final pay from my outstanding LSAP balance meaning they gave me the difference of lump sum plus final pay less LSAP. One day I may or may not see a pay statement explaining this but I'm not holding my breath especially if it's sent to my old unit.

b-t-f
 
#16
Ok, if you have the option to defer your pension to c cash payment then take it.

from 60 to 65 your pension will be counted as "EARNED INCOME" therfore taxed and used against your rent (if you are sick/incapacity benefit) is paid by the council anyamount above incapacity benefit will be removed from your council rent rebate and council tax benefit.

example.

your rent (living in private accamodation)

£395 pcm.


single person?married council grant = £85 per c w.

unemployed/incapacity benefit £85 pcw. = "170 pc 2 weeks.

however the DWP say i earn "85 pcw

and

If at 65 you are entitled to pension credit (means you have paind in x money)

todyas rate = £85 basic pension.

Guerenteed pension credit - £126 MINUS basic rate = £42 weekly payment.

sounds good. at age 65

HOWEVER
if you EARN £43 per week from your army pension the DWP
will say you are EARNING and therefore refuse to pay your entitlement of

sorry cant be bothered.
 
#17
I received my lump sum about 5 days after my final day. My mates took 30 days though, so it varies. I think that the general concensus is about a week.
 

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