Ready, steady… save!
You don’t need a chart to join in. Here are 2 ways to record your savings:
1. Cross it off
Pop a chart into your first post. Saved an amount? Cross it out! Read more »
£0.01 £0.02 £0.03
2. Write it down
Skip the chart and add updates to your first post. Read more »
“Another +£3 saved today. Go me!”
Use +£ before each new saving so it counts towards your total.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
pensions
cath000
Posts: 104
Forumite
question about army pensions please
I know a few years ago the new pension scheme was brought in and I remember hubby being told old one was better and should stay on that. Now I am looking at the army pension calculator and cant make sense of it
Hubby has been in for over 14 years hoping to do full 22.
So does that mean he gets a lump sum on leaving and a monthly 'pay' and another lump sum at 65 ??
any help appreciated and any opinions on what scheme was best thanks. :money:
I know a few years ago the new pension scheme was brought in and I remember hubby being told old one was better and should stay on that. Now I am looking at the army pension calculator and cant make sense of it
Hubby has been in for over 14 years hoping to do full 22.
So does that mean he gets a lump sum on leaving and a monthly 'pay' and another lump sum at 65 ??
any help appreciated and any opinions on what scheme was best thanks. :money:
0
Comments
-
Which scheme is he in, 75 or 05?
Your OP makes it look like he stayed on 75, if so then no to the 2 lump sums, they are only if leaving before the immediate pension point and service is split across 06 and paid at age 60 and 65. 75 pays a pension and 3x lump sum at leaving, no increases until age 55 then full inflation increased pension.
As for which is better ...... good question
Never associate with idiots on their own level, because, being an intelligent man, you'll try to deal with them on their level - and on their level they'll beat you every time.
Being hated by idiots is the price you pay for not being one of them.
Jean Cocteau 1889-1963
0 -
Of course the pension scheme will change for the worst in a couple of years. Although we will have reserved rights to all ready accrued pension, we will have no option like last time and have to change to the new scheme.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.9K Banking & Borrowing
- 255K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.4K Work, Benefits & Business
- 606.1K Mortgages, Homes & Bills
- 179.1K Life & Family
- 264K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards