Preserved Pension Forecast Calculator??

Discussion in 'Finance, Property, Law' started by Leo83, Aug 22, 2012.

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  1. Hi guys,

    I served from 2000-2007, just a little over 7yrs and I was awarded a preserved pension of £2900pa from my 65th birthday (I transferred over to 05 pension scheme as I joined at 16 and it made more sense)

    This pension was worth £2900pa in March 2007, is there anyway to find out how much this is now worth in 2012? I know these are index linked to RPI (I believe now CPI) but there are no online calculators to help with this. I'm 29 so a long way off retirement yet but just trying to plan ahead for old age.

    I've also changed address since leaving the forces, can anyone point me in the right direction of where to contact for change of address. Do Glasgow send out yearly pension statement forecasts or is it pretty much, see you again in retirement?

    Thanks

    Leo
     
  2. You will need to inform SPVA, all links etc are googleable - if that word exists
     
  3. BiscuitsAB

    BiscuitsAB LE Moderator

    SPVA website


    Veterans-UK


    and Pnone number 0800 169 2277
     
  4. Thanks guys, I'll give them a bell. I have found this link to which I was after..

    http://www.arrse.co.uk/armed-forces-pension-scheme/128524-afps-75-pension-index-linking-question-3.html

    Basically, if my pension was worth £2900pa in March 2007, I guess I should multiply by the figures...

    RPI 2008 = 3.9%
    RPI 2009 = 5.0%
    RPI 2010 = 0%
    CPI 2011 = 3.1%
    CPI 2012 = 5.2%

    £2900 x 1.039 x 1.05 x 1 x 1.031 x 1.052 = £3431pa

    Using the multiplier tool found here sort of backs this up...Pensions increase - HM Treasury
    My multiplier being 1.1868 for leaving the forces 5th March 2007. (£2900 x 1.1868 = £3441pa)

    Difference between the 2 calculations of £10 but close enough for me, I now know my pension is worth around £3440pa so has increased by around £540 in 5yrs.

    Leo