Regular Pension whilst on FTRS

Discussion in 'Finance, Property, Law' started by Ventress, May 23, 2003.

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  1. Ventress

    Ventress LE Moderator

    Couldn't get an answer on the TA page so....

    What happens, if as a TA soldier you are deployed on Telic 2, to your regular Army Pension?

    I am under the impression you still get the pension but pay your commutation in a different way (possibly)

    Answers on a postcard.....  
     
  2. Ventress

    Ventress LE Moderator

    Looks like no-one knows mate.
     
  3. Ventress

    Ventress LE Moderator

    Cheers mate anyway.
     
  4. Ventress

    Ventress LE Moderator

    Apparantly they still pay it every month, hence the pop star wages and it is increased by a few bob after 6 months. Also your LSSA carries over from your Regular service.
     
  5. isnt it just add to the years in regular service eg u did 6 in regs and 2 in ftrs so u get the pension of a 8yr reg???????????????
     
  6. Mr Happy

    Mr Happy LE Moderator

    When I did an S-Type may years ago essentially I joined the Regs for 7 months. I therefore have 7 months pension.

    The FTRS I understand will do it two ways: (1) it will pay employers or private contributions to your company/personal pension scheme or it will open an Army scheme for you.

    The ANSWERS ARE FOR SURE on the TA board, look under something titled "FTRS short deployments are you listening" or something, it's around there and bags of details.
     
  7. Qman, when you join on FTRS, for however long, your Reg pension is assessed along with your earnings against Treasurey rules. Personally, I have the whole of my pension abated (stopped until I leave FTRS) and also lose about £5 from my DRP!
    The FTRS pension, should you opt for it, is 1.5% of your pensionable pay Multiplied by the Number of years served. You do not start eaning a pension until you have more than 2 years service (this can be aggregated). You also get a lump sum (3 X pensionable pay I believe) when your pension is paid out at 60).
    Hope this helps!
     
  8. Ventress

    Ventress LE Moderator

    Yep, that clears that question up!
     
  9. Lets just hope this is one of the hyperbollocks issue that gets resolved by the bean counters under FR20. If it is going to work there has to be a more responsive pension scheme that deals with the flexibility of the employment relationship that will be in place as the whole Reserve becomes contracted and pensionable.
     
  10. Seeing as the post you quoted was from me in an earlier guise I did some research and the "new" pension scheme Outline Design published in 2012 provides this:

    Page 13 of https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/48847/OSD_doc__2_.pdf

    "Pension abatement will be removed. In the current schemes, if a Service person in receipt of an Immediate Pension (IP) or EDP re-joins the Armed Forces (e.g. on an FTRS contract), their monthly IP or EDP may be abated (reduced) or stopped and they may also be required to refund part of their lump sum to ensure their pension and new salary do not exceed their old rate of pay (adjusted for inflation). These restrictions will be removed for benefits earned in the new scheme. The restriction will continue to apply for benefits earned under the current schemes".