Originally Posted by
Bob Viking
Can I assume that, since I had 15.5 years on AFPS 75 before the switch to 15 I can just revert to the previous 75 T’s and C’s?
From what I can remember that meant full pension at 55 if you PVR’d before that age.
Bob,
AFPS75 T&C regarding pension and PVR was that you could PVR after 50 and before 55 and you got the pension you had earned (so slight deduction for each year not served to 55) immediately + the Terminal Bonus.
That was my main reason for electing to stay on AFPS75 and not taking the option to change to AFPS05 as I was in the long process of immigrating to the USA and was in the fortunate position of not needing to get another job if my pension was paid immediately.
As part of a much more complex plot, another reason for PVR'ing was to stay in the only post I was willing to do which was being converted to FTRS(HC). In those days (13 years ago), you had to take a 30-day timeout between RAF and FTRS(HC) service and pay the Terminal Bonus back - the pension stopped and I got paid as FTRS(HC).
When I retired from FTRS(HC) 18 months later, my AFPS75 pension started again immediately at the rate I had earned up to the point of PVR and then I had an additional small FTRS(HC) pension at RFPS05 rates for the extra 18 months payable from age 65.
Having since become a US Citizen and elected to pay tax in the USA rather than the UK under the US / UK Tax Agreement, I don't get involved in any of the changed UK tax liabilities - I mention that in case you have any intention of moving to Canada upon retirement in which case the UK / Canada Tax Agreement would be worth researching.