Armed forces pension

Silvertabby

I can't find this. Can you send me a link?

Sorry - if you google AFPS75, this list of options it brings up includes a deferred pension calculator - but it only seems to link to a 'currently serving' calculator.

Looks like your only option is Glasgow.

Silvertabby

“ Anybody know a good pensions advisor in Staffordshire?
Originally posted by Shentzr ”
Don't know about Staffordshire specifically, but for someone who knows about forces stuff try:

http://www.fiveraday.co.uk/about/

(don't have any connection/ recommendation, just seen some useful posts online from the author).

Don't forget that as the AFPS is a public sector non-funded scheme, benefits can no longer be transferred out to a private pension. They can only be transferred to another public sector Defined Benefits scheme - but doing that would mean that the OP would lose the benefit of taking this pension, unreduced, from age 60.

xylophone

https://forcespensionsociety.org/

Have you come across the above?

https://www.gov.uk/guidance/pensions-and-compensation-for-veterans#armed-forces-pension-scheme-1975-afps-75

https://www.raf.mod.uk/community/mura-raf-community/assets/file/afps75%20-%20your%20pension%20scheme%20explained%20(2).pdf

ger2000

Hi Folks,

I am in receipt of my pension that will be index linked next year.As a rule of thumb does anyone know roughly how much in percentage wise it is likely to increase by?

Silvertabby

Hi Folks,

I am in receipt of my pension that will be index linked next year.As a rule of thumb does anyone know roughly how much in percentage wise it is likely to increase by?

Do you mean that you will be 55 next year? If you are in AFPS75 (left before 2005) your pension will be restored to its pre-commutation level (if you did commute) and then index linked back to your retirement date. So, the increase depends on when you retired and if you commuted or not.

Ball park figure based on having retired at 40 is your pre-commutation value pension x 1.45.

If you give me your exact date of retirement I'll give you the increase factor for 2016 (2017 figures haven't been released yet).

ger2000

Many thanks, yes left at 40 in 2002 and took full commutation.

Silvertabby

Many thanks, yes left at 40 in 2002 and took full commutation.

What date exactly? - factors are in 3 month stages.

ger2000

Silvertabby wrote: »

What date exactly? - factors are in 3 month stages.

I left on the 8 Nov, thanks again

Silvertabby

“ What date exactly? - factors are in 3 month stages.
Originally posted by Silvertabby ”
I left on the 8 Nov, thanks again

Hi - the 2016 factor for 8 Nov 2002 is x 1.4274

Then you'll need to add CPI for 2017. In our case, the annual increase (applied each April) is CPI as at the end of the previous September. This won't be announced until mid October, but it's not looking good - reckon we'll be lucky to get 0.3% but, hey, that would be more than 2016's zero increase!

Cheers

Kelly007

Hi forum,
can someone tell me which is the correct form i should use when applying for a pension under AFPS75 ?
is it form 1 or form 8?
Thank you.