Sign off after 11 years?

#1
Hi, first post to Aarse.

I'm coming up to my 11 yr point and considering signing off. If I sign off after my 11 yr point and get out a year later, after serving 12 years, will I get a 12yr, half-pension?

Obviously, I don't want to ask around at work and have people know, as it is just something I'm considering at the moment.

I've stayed on the old pension scheme, if that is a factor.

Cheers to anyone that can answer my question.
 
#2
My understanding is yes. But it doesn't start until you are sixty.
 
#3
yes to be sure 11 year and day a from your RSMD Date the you will get you half pension if you have elected for AFPS 75 scheme. see your resstlement clerk for info. make sure you take into account any non reckanble service i.e time in jail etc or you have got out before.

ciao bitterandtwisted
 
#4
Cheers. I haven't been in nick and joined up after 18 (or is it 17 and-a-half) so I'm eligible for my half pension as of 5 days time then.

I'm not going to sign off just yet, but it's good to know my options. Thanks again.
 
#6
i signed off a day after my 29th birthday and qualify for the half pension. you get 8k ish and your entitled to 6 weeks resettlement. Any time in nick must be added onto this so you dont fall foul.
 
#7
And the best part of it is???........If you want to re-join you do not have to pay back a penny of your grant! :thumright:
 
#9
LaserHosen said:
Cheers. I haven't been in nick and joined up after 18 (or is it 17 and-a-half) so I'm eligible for my half pension as of 5 days time then.

I'm not going to sign off just yet, but it's good to know my options. Thanks again.
If you haven't had any breaks in service (jail etc) and you joined after 18, then it will be 12 years from the first day of service (not date of attestation). If you joined before 18, the start date is your 18th birthday.

I can't find the rules for the old pension scheme but I think you would be looking at 12/22 of the full pension, payable at 60 and index-linked, and you can find the likely amount from the pension tables. Tell me your rank and I can look it up.

Litotes
 
#10
If you leave before completing 22 yrs but having completed a minimum of 2 yrs you will qualify for a preserved pension at age 60 - this equates to 2.75% of a 22 yr pension for each year of service after age 18 up to the introduction of the new pension system, you will then get a hike from age 65 for all service since the new system was introduced (I'm not sure of this rate off the top of my head) you will also be entitled to a lump sum at age 60 of 3 X whatever your pension is to be and again at 65 3 x whatever the extra bit is- all is index linked. Once you have made your decision your FSA will be able to give you a forecast based on today's rates - feel free to PM me your details if you want to and I'll do you a forecast on Mon when I'm back in work. You will also be entitled to a resettlement grant payable on discharge as long as you have completed a minimum of 12 years from age 18 - £8947 as Litotes said. Also make sure you get as much as you can out of the resettlement system!!
 
#11
Litotes said:
...it will be 12 years from the first day of service (not date of attestation)....Tell me your rank and I can look it up.
My basic training started 04 Feb 96, I attested sometime before Christmas the previous year (if by attested, you mean swore to serve the Queen etc.). That would be great if you could look it up, my rank is Cpl.

@paywog: I will PM you this weekend sometime, thanks for the offer.
 
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