Originally Posted by
Bannock
Gents and ladies
Anyone who re-joins the service after completing a pensionable engagement and took resettlement commutation will have to pay it back ( RC). The amount recovered per month is the difference between the full pension you would have received and the reduced pension after commutation untill age 55. In my case, that equates to 160 pound a month over the term of my new service (16 yrs). Even though I am not drawing a pension. Now depending on how long you are signed on for or at what age you re-engaged dictates how much you pay. In my case it equates to 30000 ish !! To put that into context, that means for not drawing a pension for 16 years you will forfeit 224000 in pension payments and pay 30k for the privilege.
This has been challenged twice now and dismissed by SPVA. As stated in their response, this reduction in pay ceases and pension restored if I leave.
Oh ! and by the way it took them 2 years to notify me and for a year, reduced my pay by 500 a month to recover missed payments.
Food for thought?
OUCH! Thats pretty dire and a great reason to NOT rejoin.