Question on the V Engagement.

Discussion in 'Army Pay, Claims & JPA' started by THESUNJOCK, Jul 27, 2007.

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  1. Hi
    have been sent a letter from unit asking if I would like to change Engagement from Open to the new V eng. I have asked the question about Pensions a few times via the RAO but get vague answers. Question would I have to change my Pension from the old to the new pension arrangement if I opted to change to the V eng?

    Thanks in advance.

    thesunjock
     
  2. No, you can stay on AFPS 75.
     
  3. No you wouldn't have to change but to be honest it would be a bonus if you could.

    For those who opt for Veng the AFPS 05 is the best option, as long as you really want to do the full whack.

    You will now have to remain on 75 (if that was your choice) and watch those that went onto 05 get 10's of thousands more than you.
     
  4. He has no choice..he must stay on 75..that is the bad thing!
     
  5. Thanks for that, AFPS 75 sounds a better option in my point of view.
     
  6. It is, as long as you don't stay until 55. I am in the same boat right now. When OTT came out I had 2 years to do and was told there was no chance of LSL/Continunce/Veng etc, I was even told, as many others were, that we had too many of my particular trade (pilot) and that the chances of staying in past 22 were nil.

    I made my decision on OTT based purely on info given and opted to stay on 75.

    Since that time I have been offered LSL, Continuance and now Veng!!!!!

    I'm relatively happy with my lot and had I known this was coming (or even had an inkling) then I would have obviously opted for 05. The difference in my case on todays money is £20k on my lump sum and about £3k a year in pension. Not to be sniffed at.

    I am beginning to wonder wether the possibilities of Veng were purposely kept back from us older types in order to make sure we stayed on 75, saving an absolute fortune in the long term. The more i think about it the clearer it seems to be the case.
     
  7. Why would it benefit you that much if you had changed to 05. :?

    I was looking at doing VENG up to 2012 (due to get out 2010) so would leave at 42 then get my gratuity. Surely staying on 75 would be more beneficial or is there something I missed. Confusing.
     
  8. It only makes a difference if you stay for the 37 year career. In your case 75 is the best option (by a long way)
     
  9. Cheers mate, didnt think they'd put a pension scheme out that would benefit us all :wink: Dont think Id opt for 37 year service though thats at least another 12 tours in this current climate. :x
     
  10. Same here :wink: best on the 75. but im sure your right about the buggers holding the info back on us oldies, you just have to look at the way the brown letter policy was used/abused to nagate the pension commitments. :roll:
     
  11. The reason you get vague answers is that half of these c*nts employed in that role haven't a clue what they are talking about and rather than tell you that they don't know...they waffle. You're sometimes better off collaring one of the Sgts.

    Mate of mine is on it, he stayed with the old scheme but couldn't care less if he loses out in the end, as he is on £40k plus right now, and wouldn't expect to be anywhere near that as a civvy if he took his pension now and did one.

    Do it for the money mate. Guaranteed income. You know it makes sense.
     
  12. Fcuking hell Biccies youve got your sensible head on tonight, as you say though its better for us older ones to stay on 75. I was offered a decent job in civvy street the other month but when you weigh up how much pension and the possibility of V Eng decided that its a lot to lose when so close.
     
  13. Hi
    interesting point I am in a similar situation last year opted for the 75 pension as i would be leaving at my 22 point ,that was the best choice at the time, given the limited advice . I applied for LSL and was basically told you have 2 hopes.As if by magic having put the LSL totally to the back of my mind (and completed resettlement) i have been offered a further 5 years on LSL. My questions are will I now be offered VENG and if so does that make me re-employable and postable back in my mainstream Corps(they weren't interested in me after 22 years in a continuance post), and if a lot more guys are now being offered VENG up to 37 years will ,should they now have the option to change pensions again (i think not). My view at the moment is that i have just completed all my resettlement as long as i keep myself cuurent i will do at least another 2 years LSL re qualify for resettlement and do the next level up,whilst (lets be honest ) filling a LSL which is not the most difficult job in the world, knowing that i have the 22 year pension in the bag all i will do now is take 35k a year and increase my pension.
     
  14. I Have Just had the VENG Brief today and my understanding is as follows:

    1. If you have more then 9 years to go before your 22 year piont then you have the automatic right to transfer over to VENG. If you change your mind you still can sign off at 21 Years and still get a full Pension at 22 years (You need to give 1 years Notice to get out of the army).

    2. If you have less then 9 Years then you will need to sit on a Unit board then a Divisional board. You will also need to have a clean (???) record. All applicants should find out the results by 24/25 Oct 07.

    3. All personal on LSL or Continuance you will need to apply for VENG as they are being discontinued. This will also mean that they will become eligible for operational tours if there skill set was required!!!!.

    4. I have got a hand out about (but left it at work) which has a help line number on it.

    5. I hope this has been of use to people.
     
  15. Cheers for that Madpad, hopefully the roadshows coming to Colchester in the next monthor so. At least I have a few years left so will watch the guinnea pigs over the next year and see. I bet there are some Senior Recruiters and estate Wardens on LSL a bit worried now with possible tours :roll: