Can you please check my pension figures

Steveswift

Hi all,

I think that i have this right, any chance someone can have a glance at it for any massive errors.

Thanks

Steve


Ending salary: I served 18 Years and seem to recall that back then i was one about £61 a day

Earn (Guess) £61 per day for 365 days 22’265
@ 48.5% = 10’798 for a full pension after 37years
37*18 of 10798 = £5253 per year

19 Years RPI to go on. (Left Army aged 36 reach pensions at 55)
Year RPI £
1 1996 2.4 5379
2 1997 3.1 5545
3 1998 3.4 5712
4 1999 1,5 5797
5 2000 3 5971
6 2001 1.8 6079
7 2002 1.7 6182
8 2003 2.9 6361
9 2004 3 6552
10 2005 2.8 6736
11 2006 3.2 6951
12 2007 4.3 7250
13 2008 4 7540
14 2009 .5 7577
15 2010 Guess 3 % 7805
16 2011 Guess 3 % 8039
17 2012 Guess3 % 8280
18 2012 Guess3 % 8528
19 2014 Guess 3% 8783
Therefore (year 19) 8783 / 12 or £731 a month before tax, after 40% tax £439 take home a month
This address gives the Yearly inflation figures used and also has a calculator, which when used came up with a figure of £7400 from 1996 to present
http://safalra.com/other/historical-uk-inflation-price-conversion/

Year

Inflation

Multiplier

2009
-0.5%
1.0
2008
4.0%
1.0
2007
4.3%
1.0
2006
3.2%
1.1
2005
2.8%
1.1
2004
3.0%
1.1
2003
2.9%
1.2
2002
1.7%
1.2
2001
1.8%
1.2
2000
3.0%
1.3
1999
1.5%
1.3
1998
3.4%
1.3
1997
3.1%
1.4
1996
2.4%
1.4

Fergie76

Sorry, can't help you on pensions, but ring JPAC: 0141 224 3600 then option 1, they should be able to answer your questions.

Esoog

Fergie76 wrote: »

Sorry, can't help you on pensions, but ring JPAC: 0141 224 3600 then option 1, they should be able to answer your questions.

You don't ring JPAC often do you!


OP, is the Armed Forces pension calculator any use to you?

http://83.138.137.164:8080/

looks like a dodgy url I know, but google Armed forces pension calculator if you're unsure

Steveswift

Ty both for your replies