PENSIONS-Does anyone know the truth?

Discussion in 'The NAAFI Bar' started by patchemup, Jan 10, 2005.

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  1. I've just attended a brief from my RAO about the new Armed Forces Pension and there are a few things that concern me.

    1. We have previously been told the old pension was that good it couldn't be beaten and then along comes this one.

    2.RAO departments have been told to push this matter heavily in order to get maximum personnel to move from the old to the new.

    3. If its the best thing since slice bread then its a treasury orientated exercise and TCH and Bliar are the only ones too gain--at our expense.

    4. When I asked the RAO whether he would move his he replied ' No, I don't know enough about the new one to make up my mind' so if he is not fully informed how can he sell it too us.

    May be I'm a synic and too long in the tooth but if this pension is good will someone explain to me where? Amongst the mumbo jumbo is the truth but I fail to see any if all.I suppose the overall question is whether to stay or go so can someone put up more information so a sensible decision can be made. MANY THANKS
  2. Hi Patch

    Check out the finance board for several pages of info/debate on this. I think the short answer is that no one has enough info yet and - more worryingly - there is no sign of it on the horizon....
  3. Simple answer is new pension is meant to save cash, for the Govt not you.

    Now decide.
  4. Having read the gumph, it seems to me i'll be quids in on the new pension if i die in service. Wasnt really in my plans.

  5. Is the RAO qualified to give financial advice about pensions - it doesn't sound like he knows much about it. My advice (I appear to know just as much as the next guy who really knows nothing) - is to keep what you have. It's based on your final salary over the last 2 years. Unless you intend to get demoted in your last tour - forget it. I'm 10 years into my pension - I just hope I hang on in long enough to get the cost of living increases from age 55 onwards, just 5 years to go.
  6. 50 8O Bloody hell mover, dont buy green bananas mate, you'll never see them ripen :wink:

  7. To Forces SweetHeart

    Thank you for making the effort to reply so quickly(and to you others) the problem is the one topic on the finance board is around 2003 just wondering if there was any more info floating around
  8. Mate,

    don't sign up for it, I was advised by a mate, ex-RAPC and he has read it back to front! In short stick to the old one and as people say, if this government bring it in, it sure ain't for the benefit of you or me :roll: