Miltary Pensions

Davidb2959

I left the forces 2 years ago after a fantastic 23 year service. I am pensioned on my last rank (WO2) and am after some knowledge.

As i commutted all my pension, i will recieve the same sum of money for the rest of my life with the exception when i reach the grand age of 55 years old. The question is, how much will my pension increase by. This may be an easy subject, howeveer i dont know anyone who has left on a full military pension and has reached 55.

Any good advice out there much apreciated

David

andytran

Hi mate,

Im almost identical - left the RAF 2.5 yrs ago as a Flt Sgt.

Also did max commutation.

Have spoken to a few Ex-Forces who were in a similar boat. They all saw their pensions more or less double at 55.

However, that was when the pension was index linked to the retail price index. It has now changed and is now linked to the consumer price index, (maybe the other way round!) so no doubt we will get a bit less!!

Andy

molerat

Do a simple excel spreadsheet, I did one and my actual at 55 was £16 pa less than my calculated figure and was just under double.

New April pension = full uncommuted pension x RPI (up to Apr10) or CPI (Apr 11 onwards)

moonrakerz

I left the RN as WO2 equivalent in 1986 with 22yrs service:

Some historical figs:

Pension at 40 (Gross) £3811
With commutation £3014
At age 55 £7622
At age 65 (V Soon !) £9121