Got my letter through the post after a good year or 2 of waiting for my letter about my pension.

It says that my HM Forces pension can be merged into any other pension plans I may have. Seeing as I have never dealt with this before, how'd you go about doing this?
You think twice, whereas your MoD pension will be paid at the rates advertised you only have to read the papers to see how many supposedly good schemes in gold chip companies have gone belly up.
I'm going to echo Paymaster on this one.

The main benefit of a Government pension is that you know what you're going to get and when you're going to get it, and the fact that it's all indexed link means you don't need to worry about what the market is doing.

Private companies merge, go out of business, change their rates etc. You've only got to look at the troubles that hit Equitable Life for an example of what happens when it all goes wrong.

To be honest I never looked into pensions etc so I didn't know the full score of this. I now now the best option is to stay put, they should make that more clear in the letter. Some of us that are not so clued up will understand more :oops:
The problem was with the more unscrupulous pensions companies, who would tell you all about the great rates of return etc, but not warn you that your existing provider was a safer bet.

Hence mis-selling became the issue.

The rule of thumb that says if something looks to good to be true, it usually is, should always be applied! :D
Anya1982 said:
....To be honest I never looked into pensions etc so I didn't know the full score of this..... quote]

And most of us don't, Anya! Normally, we are all too busy! I started taking a close interest in my pension when I received the brown envelope in the early 90s. I survived the three culls and started keeping notes on my pension.

The comments here are quite correct - the military pension is valuable and you should stay in it. Whether you transfer to the new one or not, is a decision that only you can make, based on where you are now and where you think you will be when thrown out - and when!

If you want to know how to work out your military pension, let me know,

I have been drawing an Army pension for nearly 13 years with 9 to go before my state pension, I was asked to put it toward a private pension but resisted the temptation. Index linked and guaranteed every month can't be beaten.
Been drawing my Army pension for almost 22 years and have looked at most of the other things available . I echo what the others have said , stick with the military one , there is no way you are going to better it in the long run no matter what the so called experts tell you , mostly they are just after upping their commision .
Thank you again for all those who have PM'd me with advice. I am staying put with my pension and will not transfer it, seems the best way after stories I have heard! Not that I will be using it any time soon :oops:

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