Financial Ombudsman decision against AFPS

[Al R]

The groundbreaking decision by FOS against AFPS trustees could have interesting ramifications if you've been discharged on health grounds and have to wait for a deferred pension.

Ombudsman?s decision expands grounds for ill-health early access (http://t.co/Xer8kzOJ10)

[Just This Once...]

Al, a welcomed bit of news.

The additional £250 payment for having to fight the original decision for 6 years looks a little parsimonious.

[Al R]

This time, not so much the financial ombudsman, rather the pension ombudsman.

I don't wish to embarrass anyone recognisable but the decision doesn't reflect badly on either party and it's out there. But most important of all, the implications could benefit anyone who has got divorced and who might still get on with an ex who has been stung like this by Veterans UK incompetence. If that's the case, if they have had a pension actuarially reduced, then it might be worth complaining (again) and quoting this precedent.

Voxpop, you're aware I think?

https://www.pensions-ombudsman.org.uk/wp-content/uploads/PO-3618.pdf

[Voxpop]

We certainly are.

In reply to the point about time, these cases do take a long time. There are various stages of appeal before you can go to the Ombudsman proper, and even then the Department can appeal! The important thing is the finding.

[Al R]

Another landmark finding, involving a public sector pension. Chap transfers out of NHS into a 'liberation' scheme and tries to remedy when he realises he made a mistake.

https://www.pensions-ombudsman.org.uk/wp-content/uploads/PO-3590.pdf

Not mil strictly, I know, but a warning not to be scammed out of your mil pension.

[Wander00]

Hope he gets his money, but guess I am not holding my breath.

[Al R]

I tweeted this earlier; the US Congress has just funded a study linking ignorance of financial capability and personal financial debt, to suicide within the military.

Landmark Military Suicide Prevention Study Approved by Congress | Financial Planning (http://www.financial-planning.com/news/practice_management/landmark-military-suicide-prevention-study-approved-by-congress-2691414-1.html)

While most Americans believe the military suicide epidemic is driven mainly by lingering combat trauma, Financial Planning’s investigation found that more than 80% of suicides were among soldiers who did not see combat – and more than half of the suicides in 2012 were among soldiers who never even deployed.

In addition, the survivors of all active-duty soldiers who die are eligible for government-paid, $500,000 life insurance payments and other death benefits, perhaps creating an inadvertent incentive. Also, under military policy, financial planners who work for the military and who step up to help soldiers and veterans in financial crisis beyond rudimentary assistance run the risk of being fired for going beyond the scope of their contracts.