Pensions Question?

[Kaa050]

Does anyone out there in pprune-land know how to boost the already "world-beating" RAF pension?

My flying pay is taxed, but it does not help my pension, so...can I set set up a "Free Standing AVC" using my flying pay? or is there some other procedure to help my wallet in my frail dotage.

Have a great Christmas, and if you are out there supporting President Blairs latest tasking, keep safe.

Kaa <img src="cool.gif" border="0">

[XM147]

Kaa050

Suggest you check out this site for info on AVCs:

<a href="http://www.moneyweb.co.uk/products/pension/fsavc.html" target="_blank">http://www.moneyweb.co.uk/products/pension/fsavc.html</a>

Stakeholder pensions are also a possibility. This site might help:

<a href="http://www.pensionguide.gov.uk/ind/stak/ind_stak_lvl1.html" target="_blank">http://www.pensionguide.gov.uk/ind/stak/ind_stak_lvl1.html</a>

[ 23 December 2001: Message edited by: XM147 ]
I'll get the hang of editing in the end...

[ 23 December 2001: Message edited by: XM147 ]</p>

[Kaa050]

XM, thanks for the reply!

However, I really need to know what the rules are from the RAF side, and if there are forms etc that need to be filled in. If anyone knows the AP that covers this, that would help. Our pension is "Non-Contributary" right? ....Ouch, my head hurts.....

Maybe I'll just keep playing the lottery!

Kaa

[Banggearo]

Much as I hate to admit this I know the answer to this one. You need to look in AP3392 Vol 2 Leaflet 1822, it should have all the answers, although I didn't understand much of it!!

[Arty]

Kaa - I've also looked into how to fund the expensive lifestyle in my frail dotage. The best thing you can do is get hold of the yellow booklet 'The Armed Forces Pension Scheme' from your P-staff. It probably contains the same gen as mentioned by Banggearo, but makes a complicated subject easy to read and goes on about AVC's, etc.

However - the booklet is dated 1996 and there is due to be a major upheaval of the AFPS. I've read the consultation document and it does mention flying pay and pensions, but don't hold your breath. The new scheme is to be announced in the near future - maybe tied in with flying pay and Pay 2000/01/02/03 ???

[Kaa050]

Arty,

Thanks for the "Heads Up", I'm sure (If they are smart) Flying Pay will be included in the pensions equation, I am however not holding my breath.

Kaa <img src="wink.gif" border="0">