We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
army reserved pension
sas007
Posts: 4 Newbie
Hello i have not long been awarded my reserved army pension (2011)due to not being able to work due to injuries sustained whilst in the army.i served about 8 years, rate £969.44pa and i have a LTA limit of £1,800,000.00 and value of limit is £22,297.12 and i have used 1.23%of my LTA on this benefit.can some one explain in laymans terms what this is about.works out to be £83.00pcm and i got a terminal grant
0
Comments
-
It is all about how much pension you can accumulate. The figures quoted show how much it is worth relevant to that amount, a pension in payment has a multiplication factor to give that figure. This explains http://www.pensionsadvisoryservice.org.uk/workplace-pension-schemes/final-salary-schemes/cashing-in-pensions-%28triviality%29
Summarised, it is nothing to concern you unless you are about to put £1.78M into a pension fund. The pension providers have to give out these figures.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards