Soooooooooooo......... Pensions

Discussion in 'The Intelligence Cell' started by Army_Rizzle, Sep 15, 2011.

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  1. Maybe just tank park rumors as haven't seen any actual documentation yet. So I was told that pension change is coming, and that effectively army pensions were not going to start until the age of 65, and that this change would be for everybody regardless of your current pension scheme.

    Is this true, and if it is, surely that cant be legal, to change the terms that I signed up under.
  2. It is coming and the Army briefing note is out there. It's been up on our Troop notice board for a while now. Pension based on average salary across your whole career and not final salary was the main highlight that I can remember now. Compulsory transfer to the new scheme for all personnel by 2015 I thik, from memory.
  3. Please tell me that I am not the only one outraged by this? I didn't sign up under these terms. The pension from the age of 42 was one of the big deciding factors for me joining the army. I fully understand the change and the need to bring it in, but to transfer all personnel to the new scheme. Why would I know want to do more than 12 years service.
  4. Roll on 2014......
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  5. What you going to do? There'll be some legal small print in size 0.25 somewhere in the T&Cs that says they can do what they like and they can't afford to make you redundant so they'd probably love a few people to sign off over this. They know full well that as a well paying employer in the current climate they hold not only all the cards but the dominoes, both sets of darts, the pool cues and two chalks.
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  6. Yes its crap if it happens, but Im afraid the rules have changed. We will have to accept it, or leave. This will effect me too, one year short of my 22.
  7. Hmm, I have fully understood and somewhat supported all the cuts and cutbacks so far. But this maybe is one step too far. I fully intended to do 22 + years service, but now am seriously considering otherwise. As I know many many other people will also be doing.
  8. As I understand it from the briefing note, you keep pension rights you've 'earned' up to the changeover. So if you joined up in 2000, for example, when you finished your 22 years you'll get 15/37s of everything the old system gave and 7/37s under the new system.
  9. The absolute BASTARDS, is all I'll say. First week in January 2016 I get out. Shitters
  10. OldSnowy

    OldSnowy LE Moderator Book Reviewer

    Yep, same is happening to all other Government Employees, and a similar thing is planned for the USA Military as well.

    It's amazing how short a memory many Soldiers have. Perhaps they are just too young, or are they believing their own propoganda?. When there's no major war on - which is most of the time - then the Army is treated like shit. Always has been, always will be, and the last few years of glory are coming to an end. Prepare to appear in the press only in the pages covering Court appearances, if at all - because by 2015, with the Army out of Helmand, and upsetting law-abiding Cits in the UK, the wheel will turn to its default position - which is that Soldiery are the scum of the earth.

    Anyway, you can always leave - there's plenty of jobs outside that offer the wages and pension and health and dental and accomodation and training benefits you are getting.
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  11. Obviously it is, otherwise they wouldn't be doing it.

    But I realy struggle to see how they can force me to change onto a different pension scheme. I signed a 22 year contract under the terms I would be on AFPS75.
  12. I might be wrong as I left back in 2008, but weren't those who were under the old rules given the option to stay in the old pension scheme rather than go onto the new one? I was, chose the old one and am in receipt of an abated monthly pension as I elected to get a larger lump sum.
  13. You're thinking of when they brought in AFPS05 to replace 75. This is a whole new system that replaces both with no opt out. We're all moving onto it on whatever the date for the changeover is.
  14. Unlucky PG. VENG is not always good.....
  15. Old Snowy makes a good point. Decent jobs offering the salary that a high level full screw/SNCO is on are hard to come by unless you have good qualifications. Just having been a member of the armed forces really counts for jack shit in civvy straße. There are fewer jobs going around and employers expect experience as well as qualifications, and there's a lot of competition for jobs.

    You get free health and dental care, but in civvy street dental care costs an arm and a tooth, and you can get to the back of the queue, Tom, if you want to use the NHS.

    How much is your food and accommodation charge for living in? Couple of hundred quid? If you don't already own a property you'll be hard pressed to buy in the current climate as the banks aren't lending without a damned big deposit. If you want to rent, you may be looking at £800+ PCM for a 1 bedroom house. Source... RRPI UK - Average Rental Prices for the Whole of the UK

    Then there's your food bills and other charges on top.

    If you can't get a job then about the only benefits you'll get (unless you've got kids) is Job Seeker's Allowance at £67.50 a week. See how far that will get you.

    Civvies are just as screwed with their pensions, so to think about leaving the mob just because you've got a shitty on about your pension terms being changed is a bit daft, unless of course you've got bloody good quals and know for sure you'll walk into a well paying job.

    Best advice is to screw the system for as much as you can for as many courses and qualifications as you can, start saving big bucks for when you leave, and hold on to your guaranteed income which is on average a lot higher than your civvy trade counterpart. If you're infantry you should have tried harder at school, but I'm sure there's one or two road sweeper jobs going. :thumright:
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