So there we have it...
The current annual pension award after 22 years’ service for a Sergeant is £10,509; therefore the award of a pension payable immediately on exit under AFPS75 would be 19/22nds of the £10,509 (£9,075.95) and a lump sum of 3 times that figure (£27,227.85).
The amount of EDP lump sum is equal to 2.25 times the value of the pension pot. This means £2,454.30 x 2.25, equals £5,522.18. So, the overall award on exit for our Staff Sergeant is a lump sum equal to (£27,227.85 + £5,522.18) £32,750.03 and a total pension/income stream until State Pension Age of (£9,075.95 + £855.32) £9,931.27
Read £10,509 on old pension scheme versus £9,931 on a combination of old and new scheme - £478 per year worse off. Not too bad, but significant over 30-40 years. It's also the first time I've seen it written that previous service to an option point qulaifies you for a proportion of the new scheme without serving 20years on it.
CPL Clott