Once your pension is in payment no further commutation is available - for two reasons.I, ve had my initial lump sum and are in receipt of my monthly payment, but can you release a further lump sum from your British Army Pension through the Equiniti pensons firm?
Aren't you going put it all on the AFPS 75?@Forces Pension Society
I'm struggling with AFPS 15 commutation and 15 pension at SPA. Member of 75/15.
Pension calculator example, maths simplified (75/15):
Pension / EDP at exit £40k (25k / 15k)
Lump sump at exit £150k (100k / 50k)
Deferred pension at SPA £50K (30/20k)
or with commutation:
@SPA lump sum £100k
Reduced deferred pension £15k
my question: does this mean to gain a second lump sump of £100k at SPA, the total annual pension is reduced to only £15k or that AFPS element of deferred pension is reduced to £15k (vice £20k in my example), so new deferred pension is now £45k vice £50k?
Thanks in advance
having read, and re-read I think I understand as: an AFPS lump sum is due at SPA, but you forego a percentage of the AFPS 15 annual pension?