When can I draw my pension??

#1
Hi all,

Wonder if any of you can shed any light on this for me please. I served from 85 to 96 and came out through voluntary redundancy. I am 45 years old now.
Just recently one of my old friends told me that I could claim some of my pension now if I wanted? Just trying to find out if this is true and if so what would I expect to get, monthly or annually? Is it true that I can take it now?

If not when is the earliest I can get it and how much will it be worth. I was a Corporal on leaving if that helps.

Many thanks
 

chimera

LE
Moderator
#2
Get in touch with the Forces Pension Society - you can Google them. They have experts who will give you correct advice.
 
#3
On the face of it, you may be entitled to 11/22 of a pension (half of a 22 year pension). Why not give the Veterans Agency a call: Veterans-UK
 
#5
Hi all,

Wonder if any of you can shed any light on this for me please. I served from 85 to 96 and came out through voluntary redundancy. I am 45 years old now.
Just recently one of my old friends told me that I could claim some of my pension now if I wanted? Just trying to find out if this is true and if so what would I expect to get, monthly or annually? Is it true that I can take it now?

If not when is the earliest I can get it and how much will it be worth. I was a Corporal on leaving if that helps.

Many thanks
I am afraid that their is no provision for you to claim an AFPS 75 preserved pension before age 60. There is one exception and that is if you have suffered an injury or illness which renders you permanently incapable of gainful work, and that condition will remain until preserved pension age. In that case, you can apply to have the your preserved pension paid immediately, together with pension increases.

So, having answered the easy part of your question, please see you PM.
 
#6
I am afraid that their is no provision for you to claim an AFPS 75 preserved pension before age 60. There is one exception and that is if you have suffered an injury or illness which renders you permanently incapable of gainful work, and that condition will remain until preserved pension age. In that case, you can apply to have the your preserved pension paid immediately, together with pension increases.

So, having answered the easy part of your question, please see you PM.
Rather than start a new thread this one is similar enough........

I know I can receive my pension at 60.

Can I leave it alone and let it increase in value like some other pension schemes before I finally take benefit from it, or is it a requirement to take it at 60? Just a question I was mulling over as 60 pop's up in 3 years and I do not really need the pension at that time.

Thanks in advance.
 
#7
Rather than start a new thread this one is similar enough........

I know I can receive my pension at 60.

Can I leave it alone and let it increase in value like some other pension schemes before I finally take benefit from it, or is it a requirement to take it at 60? Just a question I was mulling over as 60 pop's up in 3 years and I do not really need the pension at that time.

Thanks in advance.
Gutted.

I thought this was a thread about drawing.
 
#8
Rather than start a new thread this one is similar enough........

I know I can receive my pension at 60.

Can I leave it alone and let it increase in value like some other pension schemes before I finally take benefit from it, or is it a requirement to take it at 60? Just a question I was mulling over as 60 pop's up in 3 years and I do not really need the pension at that time.

Thanks in advance.
Take it and invest it?
 
#10
#11
Rather than start a new thread this one is similar enough........

I know I can receive my pension at 60.

Can I leave it alone and let it increase in value like some other pension schemes before I finally take benefit from it, or is it a requirement to take it at 60? Just a question I was mulling over as 60 pop's up in 3 years and I do not really need the pension at that time.

Thanks in advance.
I don`t think that the pension will increase if you leave it in situ with George Osbourne as there is no investment under pinning a forces pension.

The only increases you would get are the index linked ones, I would be surprised if there where provision to let it lay before you decided to start drawing the pension

Archie
 
#12
Rather than start a new thread this one is similar enough........

I know I can receive my pension at 60.

Can I leave it alone and let it increase in value like some other pension schemes before I finally take benefit from it, or is it a requirement to take it at 60? Just a question I was mulling over as 60 pop's up in 3 years and I do not really need the pension at that time.

Thanks in advance.
Is that your Service or State pension?
 
#13

Joker62

ADC
Book Reviewer
#14
#16
I don`t think that the pension will increase if you leave it in situ with George Osbourne as there is no investment under pinning a forces pension.

The only increases you would get are the index linked ones, I would be surprised if there where provision to let it lay before you decided to start drawing the pension

Archie
Just thought I would ask. I didn't expect there to be but, I shall drop a line t'Glasgae.
 
#18
Rather than start a new thread this one is similar enough........

I know I can receive my pension at 60.

Can I leave it alone and let it increase in value like some other pension schemes before I finally take benefit from it, or is it a requirement to take it at 60? Just a question I was mulling over as 60 pop's up in 3 years and I do not really need the pension at that time.

Thanks in advance.

I am afraid that the pension will not go up in the way that some pensions do (called an actuarial increase). Only the newest Armed Forces scheme (introduced 1 April 15) contains such a rule.
 

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