Pension Q?

TREVORCOLMAN

Under the old scheme when you leave before 55 your pension stays the same until you reach age 55.

Then your pension will increase by each years RPI from when you left to age 55.

YOU DO NOT GET THE SAME RATE AS SOMEONE LEAVING AT THE SAME RANK WHEN YOU REACH 55.

Say there were 10 years between you leaving and reaching age 55. Then each Sep RPI is added onto your pension when you reach 55.

Note last Sep RPI was 5%. But this years is likely to be a LOT less - however you increase cannot go negative!

From then on it is index linked.

If you want any further clarification please feel free to PM me.

Paul.J.M

I now think that my original question was not an easy one to answer from the comments so far, i think it has proved that not many service people non serving or serving truly know the answer.
So TREVORCOLMAN has said exactly what i was thinking in my original Q. unless i have lost the plot.
I would still appreciate more thoughts on this subject. Not totally convinced just yet.

ANDY L

"This pension will be fixed until you reach the age of 55. At this point it will be increased to take account of the total rise in the cost of living since your service ended"

Where did you get that from????

Andy_L

Sorry, forgot to put the link in. Its the AFPS 75 Pension booklet, page 13
http://www.mod.uk/DefenceInternet/AboutDefence/CorporatePublications/PersonnelPublications/Pensions/AFPS75/Afps75YourPensionSchemeExplained.htm

Paul.J.M

Andy L

Thanks mate you are spot on with this one. i suppose i should read more intelligently in future.

thanks again for the link. I will be able to put a few people right from now on.

Paul

TREVORCOLMAN

Paul.J.M wrote: »

I now think that my original question was not an easy one to answer from the comments so far, i think it has proved that not many service people non serving or serving truly know the answer.
So TREVORCOLMAN has said exactly what i was thinking in my original Q. unless i have lost the plot.
I would still appreciate more thoughts on this subject. Not totally convinced just yet.

ANDY L

"This pension will be fixed until you reach the age of 55. At this point it will be increased to take account of the total rise in the cost of living since your service ended"

Where did you get that from????

I have told you the answer and offered to spell your actual terms out by PM - which part do not understand?

Paul.J.M

I understand the whole part, i was merely suggesting that not many people actually know the answer, it is very important that people should know what happens to their pensions, but they do not, thats all.

TREVORCOLMAN

Paul.J.M wrote: »

I now think that my original question was not an easy one to answer from the comments so far, i think it has proved that not many service people non serving or serving truly know the answer.
So TREVORCOLMAN has said exactly what i was thinking in my original Q. unless i have lost the plot.
I would still appreciate more thoughts on this subject. Not totally convinced just yet.

ANDY L

"This pension will be fixed until you reach the age of 55. At this point it will be increased to take account of the total rise in the cost of living since your service ended"

Where did you get that from????

See the highlighted part which does not suggest that you understand it.