Reaching 55 on AFPS75 - Oct 2019

IDM

Crow
I’ve just turned 55 and also left the Army as WO2 in 2005 after 22 years, on the AFP75 scheme. I can confirm that when you reach 55 you start qualifying for your pension but don’t receive the full whack pension until the next pension payday, which for me is 55years and 1 month, because my birthday was on payday.
My pension has increased by 45% on the pre commuting pension. After commutation I was held at £9202 (non commutation about £11200) but will now be £16k give or take a few pence. This equates to about £1220 per month after tax. (See attached Equinity form).
I hope this helps others because I couldn’t find the info with any accuracy online.
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bullshit

War Hero
That is a really good and tangible piece of information. I get there in July 2022 so thanks for the information.

Rich
 
Quite right. You start to see the effect on the first pension pay day after your 55th - the pension is always monthly in arrears.
I turned 55 in December 2019 having left the Army in August 2015 after 29 years service. Spoke to a lady at Equiniti about 45 mins ago, she stated that my pension will stay the same and I will not see any difference to my pension until after April 2020. Is this correct? Thanks in Advance
 
I turned 55 in December 2019 having left the Army in August 2015 after 29 years service. Spoke to a lady at Equiniti about 45 mins ago, she stated that my pension will stay the same and I will not see any difference to my pension until after April 2020. Is this correct? Thanks in Advance
Sounds to me like it may be a bit too difficult for them :rolleyes: because of having to re-calculate your tax. Try ringing them again and asking why, if it is to do with tax, ring HMRC and see what they have to say.
 

Quo_vadis

Swinger
I turned 55 in December 2019 having left the Army in August 2015 after 29 years service. Spoke to a lady at Equiniti about 45 mins ago, she stated that my pension will stay the same and I will not see any difference to my pension until after April 2020. Is this correct? Thanks in Advance
I've always understood (misapprehended hopefully) that the index linked hike doesn't kick in (i.e. you don't get paid it) until the April following your 55th birthday. I'm pretty sure I've read the same in AFPS literature too!
 
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I've always understood (misapprehended hopefully) that the index linked hike doesn't kick in (i.e. you don't get paid it) until the April following your 55th birthday. I'm pretty sure I've read the same in AFPS literature too!
Mine was on the payday after my 55th birthday which was early February and my pay day is 27th.
 
Thanks. That sounds promising. Odd that Stewdep40 (above) was advised by Equiniti it would be Apr though.
My first pay day after reaching 55 is on the 29th Jan, I will wait and see what goes in, then chase up if needed. Thanks for the advice and comments, much appreciated.
 

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