I'm on AFPS75 and I'm still on a winner until Mar 13 when compared to AFPS05.
Redundancy right now on AFPS75 is approx £150k tax free and £19k immediate pension until 55 and then about £23k (index linked).
Rendundancy right now on AFPS05 is approx £120k tax free and £10k immediate pension until 55 then £15k (index linked) and then £19k at 65 (index linked) plus another £60k.
I reckon that I would be about £100k better off if I live to 70 on AFPS75.
After Mar 2013, then AFPS75 lump sums are about the same but I still get an extra £9k per year until 55 and then another £4k per year without the final £60k that AFPS05 gives you - I guess this is getting close to break even?
A sh!tty deal for what I was once on
- maybe we should go on strike with the civil serpants (only kidding!).
The B Word