"....is the average length of time for a full military career person actually drawing their pension? I'm sure the figure must be out there somewhere.
In 1965 I remember my F-i-L pointing out to me the figure in the Pennant?? that the figure was 3.5 years. But I was young and thought that pensions were for old people. Scarely soon after ('98), I was one and the question arose again. No-one at the resettlement fora could tell me and the actuarial chaps from the suppliers shuffled their feet and suggested "somewhere over 5 years, but don't quote me". A low figure might make one think twice about some of the investment plans being floated at these seminars.
Anyone have any clue?"
Hi Rossian,
The average life expectance for an officer leaving at age 40 is 45.5 yrs and for an other rank 43.6 yrs. This is means that people spend more time drawing their pension than they spent earning it - which you and I think is great but worries pension scheme actuaries to death.
These figures are quoted at the Financial Aspects of Retirement briefs that the Forces Pension Society deliver on behalf of MOD.
Last edited by Voxpop; 23rd Jun 2012 at 09:40.