army pensions

vaisala

hi all, i thought i would write and see what responses i get to this item. basically i left the forces in 2001 with 1/2 pension, however before i left there was an independent audit done (which i cant any info about) but basically the brunt of it was that, 60% yes 60% of ex servicemen/women do not actually live to pension age. granted if you are married your widow may be able to receive it, however what about the single ex services personnel who are not married? where does their entitlement go to? personally i think 60% is a staggering statistic! your thoughts on this anybody?

regards
steve

Cat695

I think you'll find that the 60% thing is of very old......it no longer applys

vaisala

how do you men no longer applies? can you elaborate?
regards
steve

Cat695

the working regime back then for the forces was very different to, i would say the last 10-15 years if not the last 20 years.

and certainly not half as stressful......hence why they changed the pension for the forces as they where paying out far more than they use to because soldiers are living longer

Andy_L

vaisala wrote: »

where does their entitlement go to?

It's used to pay the pension of those who survive longer than the average. Well sort of, as it's an unfunded scheme it reduces the annual cost of running the pension scheme - effectivly the same thing.

chesky369

Why don't you post on the 'For Who And Where You Are' board - there's a 'UK Armed Forces Money' Board there, where you might generate a more informed discussion.

Andy_L

vaisala wrote: »

before i left there was an independent audit done (which i cant any info about) but basically the brunt of it was that, 60% yes 60% of ex servicemen/women do not actually live to pension age.

I have to say that, since that means that 60% of those who get a deferred pension (ie leave before 16 or 22 years service) die before the age of 60, that strikes me as urban myth statistics.