Veng(LC) Redundancy / AFPS75

Discussion in 'Armed Forces Redundancy Scheme 2010' started by JonnyAlpha, Oct 26, 2010.

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  1. I have been trawling through the various links and can find nothing specific in relation to individuals on AFPS75 who are already in a Veng(LC) contract I.E. me who has served for 26 years and am currently contracted under Veng(LC) until 2014.

    I am trying to find out two things:

    1. How I would be affected and what I would be entitled to should I apply??? be asked to apply for redundancy?
    2. If I do not apply and am not asked to apply are there any plans to amend my pension entitlement?

    The government are reviewing ALL public sector pension and no doubt if possible they will try to amend the existing AFPS75, I was under the impression that AFPS75 is pretty well untouchable but would like some confidence?

    I have also seen the link to the Armed Forces Pension Society and will be in contact with them for conirmation.

    Any info all be it informal advice would be great.

  2. What no takers : )
    Oh well as you do Iv'e been doing my own digging and apparently AFPS 75 is pretty solid, in that if youv'e already qualified for it you'll get it, It has however been affected by the pay freeze (its final salary based so if your salary ain't increasing then you'll get a payment slightly lower than it could have been) it will also be affected by the governments change in interest rates on pension RPI to CPI (Retail Price Index to Consumer Price Index. CPI is historically lower therefore your pension payouts will increase at a lower rate.
  3. vauxhall

    vauxhall Sponsor

    Take a look at the Forces Pension Society website. There is information on there which is available to all. The Forces Pension Society