AFPS Form 8

Melmar

Hi,

I'm in the process of completing AFPS Form 8 in order to claim my RAF pension AFPS 75,

I have a very small company pension that is due to start at the same time as the RAF pension. It appears that I need to declare this on the AFPS Form 8. My question is why, and will it affect what I receive from the MOD?

Thanks in advance.

Silvertabby

They are just checking that your total pensions won't breach the LTA (lifetime allowance).

Is your company pension also DB?  If so, then as long as the sum of both pensions is less than £53K per year you have nothing to worry about.  Even if they do exceed £53K your MOD pension won't be reduced - there would just be some tax fine tuning to sort out.  

Even if your company pension isn't DB  it is unlikely that the total value of your deferred RAF pension plus your 'small pension' DC pot will be anywhere near the LTA figure of just over £1M.

Expect your company pensions administrators to ask for the details of your other pensions (excluding your State pension) as well.