The Forces Pension Society - Protecting Your Interests

#81
As you know FPS deals with the pensions side of things but I will venture a few words on compensation for attributable injury. The War Pension Scheme (WPS) and the Armed Forces Compensation Scheme (AFCS) both offer benefits but you cannot claim from the WPS until you have left the Armed Forces and it will only consider conditions with their origins before 6 April 2005. AFCS allows compensation to be claimed in service and, for serious conditions, provides guaranteed income payments when discharged. AFCS will only consider conditions arising on or after 6 April 2005. I don't think it is a case of one scheme being better than the other for most claimants - it is more a question of when the condition occurred/originated and which scheme will consider your case.
 
#82
As you know FPS deals with the pensions side of things but I will venture a few words on compensation for attributable injury. The War Pension Scheme (WPS) and the Armed Forces Compensation Scheme (AFCS) both offer benefits but you cannot claim from the WPS until you have left the Armed Forces and it will only consider conditions with their origins before 6 April 2005. AFCS allows compensation to be claimed in service and, for serious conditions, provides guaranteed income payments when discharged. AFCS will only consider conditions arising on or after 6 April 2005. I don't think it is a case of one scheme being better than the other for most claimants - it is more a question of when the condition occurred/originated and which scheme will consider your case.
It’s now time to submit my War Pension Claim paperwork. I have asked the Veterans agency to post the required forms. I have also been onto the Legion as a member and asked for some guidance on filling in the form only to be told that they don’t do that. Sounds odd, but I thought that being a member of the Legion would at least mean someone would help filling in the forms. I am also a member of the Forces Pension Society, do you have anyone who provides advice and guidance on filling in the detail on the claim form?
 
#84
We normally stick to the occupational pension side of life but, see your PM, I will see if I can help you through the form filling.
Manage data to fill the form in using the details I have from my discharged medical. If it comes back and I think the offer is not what it should be I will be in touch.
 
#85
Not sure if this is the right place but here goes... I am trying to fill in my form 8 to claim my deferred pension, payable at 60 years of age.
Page 5 asks for any other pensions that are being paid or will be paid when I am 60, is this just referring to military pensions or is it any pension? I am in receipt of my Local Government Pension (took it early) and will be due my Royal Mail Pension at 60. If I declare these will it affect my deferred military pension?

Thank you in advance Smarty B)
 
#86
No. The question aims to test your pension savings against the HMRC Life Time Allowance (LTA). The LTA is currently £1M (rising to £1.03M in April 19).

You need to declare your other two pensions but do not worry too much. You would need to have annual pensions (excluding the state pension) totalling over about £50k to trigger a tax charge.

You haven't mentioned the two questions about 'protection' but they often confuse enquirers on the Veterans Gateway. These protections are applied for by high earners when the government imposes new rules or thresholds that these high earners are already in breach of or nearly at. For most of us the answer is 'no'.
 
#87
No. The question aims to test your pension savings against the HMRC Life Time Allowance (LTA). The LTA is currently £1M (rising to £1.03M in April 19).

You need to declare your other two pensions but do not worry too much. You would need to have annual pensions (excluding the state pension) totalling over about £50k to trigger a tax charge.

You haven't mentioned the two questions about 'protection' but they often confuse enquirers on the Veterans Gateway. These protections are applied for by high earners when the government imposes new rules or thresholds that these high earners are already in breach of or nearly at. For most of us the answer is 'no'.

Thank you, it does explain it better that way. I wish they said on the form 'for tax reasons'

As for the 'protection' question, I thought at my age, there was no need for it anyway.... Seriously thank you I will now tick the NO box instead of leaving it.

I will now get on with sorting the rest and then get it posted.

Thank you again.

Smarty
 
#88
No. The question aims to test your pension savings against the HMRC Life Time Allowance (LTA). The LTA is currently £1M (rising to £1.03M in April 19).

You need to declare your other two pensions but do not worry too much. You would need to have annual pensions (excluding the state pension) totalling over about £50k to trigger a tax charge.

You haven't mentioned the two questions about 'protection' but they often confuse enquirers on the Veterans Gateway. These protections are applied for by high earners when the government imposes new rules or thresholds that these high earners are already in breach of or nearly at. For most of us the answer is 'no'.

Another quick question... when the form asks about the other pensions it asks for name of pension scheme, reference numbers, date payment started/due to start and the LTA percentage for each, will I have to contact each pension provider for the LTA percentage, or is there a generic answer for it?

Smarty
 

Similar threads


New Posts

Latest Threads

Top