Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    any online RPI calculators?
    • #1
    • 18th Apr 09, 10:13 PM
    any online RPI calculators? 18th Apr 09 at 10:13 PM
    dug out an Armed Forces pension forecast i have from 1998, which i will have:

    terminal grant of 4145.16
    Preserved pension of 1381.72pa

    it says it Index linked measured by RPI.

    are there any online calculators so i can see how the figures have changed since 1998?

    Im going to contact the pensions folks this week to let them know i've changed address and see if i can get a forecast but out of interest it would be interesting to the figure online.

Page 1
  • jamesd
    • #2
    • 19th Apr 09, 12:15 AM
    • #2
    • 19th Apr 09, 12:15 AM
    One of the many places you can find the RPI index values is the ONS

    The index value in Dec 1998 was 164.4 and in Feb 2009 it was 211.4 so you can expect at least:

    214.4 / 164.4 * 4145.16 = 5405.85
    214.4 / 164.4 * 1381.73 = 1801.95

    They will be a little higher if the figure you have for 1998 is for an earlier point in that year, a little lower if it's for April 1999 as the end of the 1998/9 tax year..
    • SnowMan
    • By SnowMan 19th Apr 09, 10:11 AM
    • 3,148 Posts
    • 5,828 Thanks
    • #3
    • 19th Apr 09, 10:11 AM
    • #3
    • 19th Apr 09, 10:11 AM
    The precise application of increases will depend on the scheme rules for the scheme you were in but normally schemes like the Armed Forces (also LGPS and NHS) use the RPI index. They usually apply increases in April each year based on the RPI for the previous September.

    The annual RPI increases can be found here you need to look at the column for September and the table at the top (i.e the RPI one and not the CPI one).

    e.g. in April 2009 the increase that should have been applied is 5% (i.e Sept 2008 figure). The increases apply up to your scheme retirement date (is it AFPS75 you were in and so 60 here?)

    After scheme retirement date they may only apply to the excess of the pension over what is called your GMP.

    The first increase after leaving is sometimes a proportionate one (but sometimes it is a full one). For example if you left in October 86 the first increase in deferment in April 87 might be for half a year.

    Have a look at your 98 statement and try and work out what increases have been applied so far. Usually these types of public sector scheme statements make no allowance for increases after the statement date. If it was produced in (say) February 98 then it may include increases up to and including April 97. You may also have figures at date of leaving the scheme and you can try and marry these up by applying the annual increases for each April between leaving and the 98 statement date.

    Hope this helps.
    Last edited by SnowMan; 19-04-2009 at 10:40 AM.
    I came, I saw, I melted
  • Pixieboy
    • #4
    • 19th Apr 09, 1:58 PM
    • #4
    • 19th Apr 09, 1:58 PM
    The excel workbook at the bottom of this page should help you need to know thge date that the pension "began" this is normally the day after your last day of pensionable employment.
    Hope this helps.
  • wardrobe
    • #5
    • 20th Apr 09, 4:48 PM
    • #5
    • 20th Apr 09, 4:48 PM
    manythanks everyone for the information and your time
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,010Posts Today

7,481Users online

Martin's Twitter
  • RT @Mattallwright: I don?t think life is fair. I think we have to work to impose our idea of fairness on life. It doesn?t come pre-justiced?

  • 3 tips to succeed if you want to start your own business, from me, an accidental entrepreneur...

  • My advice for budding entrepreneurs... why a good idea is a nightmare...

  • Follow Martin