Army pensions

Mr_Proctalgia

I joined in 1972 and left in 1985 - I have 12 years preserved pension @ 12/22 of the rank I left at, updated annualy by the rate of inflation. I also get 3 times annual pension as a gratuity when I start to draw it. I spoke to Glasgow (Kentigern House) a few months back and they said to give them a heads up about 6 months before the due date with information about address etc etc.

I was also in conversation with my IFA earlier this month and basically there is nothing you can do about getting your hands on this money early unless you are very ill and unlikely to survive to the due date, when you can be "considered" for an early pension. My IFA said that it was such a good scheme that he would never ever consider touching a military pension as it would definitely be seen as miss selling.
I know we were all paid a bit less than the civil comparators in the day but the whole of the pension is effectively free money, you can also let it wait til you are 65 as well and it will continue to grow (Or rather there is an "Actuarial Adjustment" when you decide to draw it at 60)

HTH

farquarpigmix

Andy_L wrote: »

Because that's what the contract with the army said at the time and pension law allowed it. ISTR there are ongoing campaigns to try & get retrospective changes to the scheme made.

Hi Andy,

Do you have any more information about the campaigns? Anyobody else got any information?

Cheers
Farquar

islandannie

farquarpigmix wrote: »

Hi Andy,

Do you have any more information about the campaigns? Anyobody else got any information?

Cheers
Farquar

This link should be of interest.

http://www.afpg.info/

Andy_L

or the ARmy Rumour Service forums
http://www.arrse.co.uk/