Transfer out of Armed Forces Pension

jem16

Good_bad_and_ugly wrote: »

Would it be a waste of time? No, of course not.

Yes it is a waste of time as Pete is not in a position to do anything about transferring his AFPS AT THIS MOMENT IN TIME. When he is I'm sure an IFA will be happy to advise.

No what ifs about it, just plain facts.

dunstonh

.. that you shouldn't have been so dismissive?

Again, refer back to post #1. The OP is not able to transfer out of an unfunded defined benefit scheme into a defined contribution scheme.

After all, all I was suggesting was that Pete go and do that? What was so wrong with saying "Yes Pete, you should.. after all, that's what I advocate in my signature and that's what the FCA advocates too. I was wrong in suggesting it would be a waste of time".

You were advocating that Pete pays for advice to be told something he already knows.

Statistically, it is best left in AFPS. I never said it wasn't. But the point is, if you want to use the word 'statistically', you need to establish whether or not Pete falls within the remit of that.

Clearly he does because it is not possible for him to transfer to a defined contribution scheme.

He mentioned mortality to you - he offered you a clue, an open door, and you either couldn't be bothered to step through it or you didn't pick up on it.

Wrong. I did pick up on it by mentioning that statistically, he is likely to make it. He has never returned to the thread to suggest otherwise. However, again, it doesnt really make any difference.

I know of someone who is retiring to the Channel Islands within the remit of the club transfer. According to you, even suggesting he speak with an adviser is a waste of time. The briefest of professional diligence would let an adviser comment on 'plans' (and let's remember, you haven't bothered to establish 'plans' because you really can't be bothered).

I have not said any such thing.

Jersey offers a higher deferred pension revaluation rate but Guernsey only recently (end of March), decided to move its state retirement age to 70 - both factors that would give Pete priceless info. But you have prescriptively suggested to Pete that chatting to someone is pointless so he too, would never know that. That, fella, is called carrying out a fact find. That, fella, is referred to as being 'diligent'.

And that has what to do with a request about transferring the unfunded Armed Forces pension to a defined contribution scheme?

The original question asked if he could do it. We know he can't.

Yet you go on and on and on about totally irrelevant things trying to score points whilst totally ignoring the original request. Coming out with a load of hypothetical situations is not helpful to the OP.

Maybe you had something else to do, I don't know. But at least don't let someone down because you aren't as on top of your game as you should be.

Personal attacks dont help you win your argument. You are wrong. Clear for all to see apart from you.

Good_bad_and_ugly

Jem,

Sorry - I don't want to be rude so I'll say nowt.

jem16

Good_bad_and_ugly wrote: »

Yours, and Jem's initial points were poorly considered and poorly informed.

Based on the information that the OP gave, no they weren't and I stand by them.

By way of evidence, if he couldn't do it, why did you say he'd lose a fortune?

Try reading the previous sentence in the same post.

My points were/are correct,

Only to you it seems.

Feel free to comment further if you wish the last word, but I for one won't. This thread could have been finished at Post 7 as the Op had all the relevant information by then to achieve what he wanted to do.

hyubh

Good_bad_and_ugly wrote: »

I know of someone who is retiring to the Channel Islands within the remit of the club transfer.

That is a sentence that doesn't make sense. You don't 'retire... within the remit of the club transfer' - you transfer from one occupational scheme to another under the remit of the transfer club.

Jersey offers a higher deferred pension revaluation rate but Guernsey only recently (end of March), decided to move its state retirement age to 70 - both factors that would give Pete priceless info.

Humour us by explaining why the terms of the state pension in the Channel Islands is 'priceless info' for someone wanting to take money out of a British armed forces occupational pension.

And given that you mentioned statistically, here's one for you. USS. In the club scheme and going from DB to DC, no?

I've told you before - it's (a) just a proposal at present (b) only concerns pay above a certain level, i.e. the USS will remain mostly DB. It will also have little relevance to the USS' membership of the Club (let alone the OP). Cf. what happens right now when a Club transfer into the USS from a final salary scheme happens, and the member is in the CARE section - they get a specially-calculated final salary service credit in the USS.

My points were/are correct, but you are dragging it out by being in denial, based on your pride being bruised.

:rotfl: