Discussion in 'Current Affairs, News and Analysis' started by agoodgrouping, Jul 17, 2004.

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  1. Next April the new Pensions Scheme will be introduced. For all of us serving, this is an important financial decision which will affect the rest of our lives.

    I was told we would have full briefings and financial comparisions of “old & new” schemes. My unit hasn’t had anything yet - is my RAO being idle or has anyone else received this information ?

    It is only 7 months away, surely we should know some clear details by now ?
    or are they trying to hide something
  2. Is it legal for financial advice to be given by non-independent advisors?

    One change that will happen regardless is the shifting of the preserved pension payment date to age 65, for contributions accrued after a certain date TBD.
  3. I haven't heard anything about it either...would like to think someone will brief it befoe then, but probably not and we'll have to find out for ourselves. :eek:
  4. Let's face it...since when was a change carried out by government unless it was to save either money or their pathetic own careers in bureaucracy.

    The govt are ripping off the forces and there's nothing we can do about it. I only wish I could hope to earn anything near an MP's pension. The widow of an MP who dies of natural causes receives more than the widow(er) of a serviceman/woman killed in action. just shows how much they appreciate our sacrifices, like the guys who had to die in Iraq to cement Bliar's reputation as a strong leader based on a lie.

  5. Yep - once again the military are ripping off the serviceman with this so called improved pension system. They actually had the cheek to justify the new pension on the grounds that it would (and I quote) “redistribute the funding available”. Are they just dumb or what – New Labour (bunch of T**ts) dropped the use of this term when they realised the socialist overtones was anything but a vote winner. I would suggest that the military ought to wake and realize that if we had the opportunity to vote on the pension it wouldn’t get supported.

    Oh – we have voted – on ARRSE. Total votes 164 with one lunatic voting to say he would change!

    I think that says it all!
  6. Steady, guys! The new scheme is introduced at some point not before Apr 2005 only for new entrants. Everyone serving before the changeover date keeps their old entitlement unless and until they decide to change to the new scheme. The ARRSE poll says it all - 1 out of 164 thinks it might be worth changing, and there's little incentive for many of us who are now serving to do so. Basically, unless you are positive you will complete 35 years service or you are convinced you are going to drop dead imminently and want your widow/widower/partner to get the means to emigrate to the Caribbean, you'll stay exactly where you are, in pension terms.

    The decision point for people with preserved rights is sometime between Apr 2005 and 2007 - date yet to be announced - and cannot happen until all the briefing on implications has taken place. In particular MOD has promised individual comparisons on benefits under the old and new systems, though you can pretty much work it out now if you want to. No one can change your pension unless you agree to it.

    Current details - there is clearly a lot more information to come - are at

  7. Being a sceptical bugger, I reckon there will be a drastic increase in brown letters threatening SNLR. Guys will be offered continuation, like the limited 3-yr S-type. That change of engagement - after the 2005 cut-off - will be the catalyst by which they force guys onto the new pension scheme. Don't doubt it for a minute - remember that politicians are sneaky, conniving bar-stewards who run dirty tricks campaigns every day.

    For those high-calibre individuals who are offered LE commissions with appts from 2005 onwards, their swap onto new engagements will condemn them to the new pensions scheme as well. OK if you're 100% committed to serving to 55 but otherwise extremely dangerous from a financial perspective. My OC asked me recently if I was looking at applying to go LE in the next few years. I'll leave my response to your imagination.
  8. At the risk of sounding like a MOD spokesman - never likely! - 30 seconds spent on the site that I linked to above produced the following quote:

    This quote comes from the FAQ section of the MOD site at

    I'm all in favour of healthy scepticism verging on cynicism, but there isn't a conspiracy in every plan from MOD. And when the answer clearly is out there (see above), it's got to be worth 30 seconds effort to find it.
  9. I think you may of hit the nail on the head there. The best and most cost effective way to secure cuts without the big chops, amalgamations with costly redundancy payments would be via stealth cuts like this, it strange how ministers go all sheepish when this topic raises its head

    I think warning slips are in the post already guys :twisted: check your intray folks
  10. Cheers for everyone's contributions on this topic. It is strange though that although we are comparitively close to the beginning of the changeover "window", no-one has heard much at all! I did go to some brief given by some Pension Society last year. The ex-General tried to give an independant view, but when it came to the real questions, knew no answers. 2 points I would like to make:

    1. RAOs will be giving very little true advice out when the new scheme comes in. Individuals will have to make their own choice on the "information" (not advice) they receive.

    2. Is it not a sad state of affairs when the only real benefits of this new scheme are...if you cop it!! Gives you an idea of what the Govt has planned for the next few years.