Originally Posted by
Jambo Jet
The RAF are already short of key personnel in certain branches. Now that the 'rejoiner' brigade can leave at age 55 with a decent second pension, why would they remain in to age 60? The interesting question is those people that accepted service to 60 because the IP point moved from 55 to 60 with the 05 - 15 transition, will they be given the choice to revert back to MEOS55? Or will they just PVR at 55 and take the hit on their 05 pensions. Manning look set to remain a challenge with this decision.
Jambo,
.. just one reason why this is going to be a rat’s nest. Another aspect of ASPS15 though, in common with all other public sector pensions of the time, is that the Scheme Normal Retirement/Benefits age was hard wired into alignment with the State Pension Age via secondary legislation.
This meant that the age at which you took benefits could shuffle to the right in concert with State Pension. Ultimately, this is all going to be another nail in the coffin of a public sector Defined Benefit (whether that’s be Final Salary or Career Average) pension scheme.
The issue most pressing will be that of Annual/Lifetime Allowance implications. It is public knowledge that I am not the loudest drum beater for the Forces Pension Society any longer, but if you are a member I would certainly be keeping them close. Service Personnel need a professional body that looks after their retirement interests. One with properly authorised and regulated trustee and professional responsibilities.