Military Pensions??
Join Date: May 2000
Location: Carterton,Oxon,UK
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CG
I was the co-ordinator of the group legal action during 1996-7. We did a lot of research and employed some very expensive legal help. The final conclusion was that there was no chance of success in the courts. All contributors to the action have a copy of counsel's opinion, but I'm not able to share it as the agreement was that only those who contributed to the cost (about £10K) should have copies.
I was the co-ordinator of the group legal action during 1996-7. We did a lot of research and employed some very expensive legal help. The final conclusion was that there was no chance of success in the courts. All contributors to the action have a copy of counsel's opinion, but I'm not able to share it as the agreement was that only those who contributed to the cost (about £10K) should have copies.
Join Date: May 2001
Location: South & East
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Just a thought, when you look at pension levels of 55 YO Sqn Ldr and 55 YO spec aircrew Flt Lt what do you notice? Not alot of difference. Want to know why? Ask the pensions people at Binnsworth...... .I did.....Apparently part of the spec aircrew flying pay is taken into account
Paul - what is interesting is that the recent announcement concerning future terms of service revealed that 'Professional Aviator Pay Spine' aircrew will receive a pension based upon 100% of earnings!! They've done this by binning the concept of basic and flying pay for PAPS (nice!) aircrew (the future term for Spec Aircrew) in favour of enhanced total pay. Hence it has been accepted, ipso facto, that such aircrew are indeed entitled to a pension based upon their total earnings - but the rub is that only those with 5 years or more to go to their retirement date can transfer to this scheme - hence a quirk of birth date will disadvantage the rest of us by a not inconsiderable amount. But I believe that there's a legal precedent over such things which may help.....
PS - Keep up the pressure regarding the railway!!
PS - Keep up the pressure regarding the railway!!
Join Date: Nov 2000
Location: Glorious Devon
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Brakes..beer
"Stay on till 55 and your pension is 2/3 final basic pay..." And my willy's a foot long! If you managed to serve on to 65 you might get 2/3 basic. Most of us get booted out at 55 with 34 years full-time service, when the pension is about 50% basic pay (indexed to RPI). Its all based on Civil Service rates. <img src="frown.gif" border="0">
"Stay on till 55 and your pension is 2/3 final basic pay..." And my willy's a foot long! If you managed to serve on to 65 you might get 2/3 basic. Most of us get booted out at 55 with 34 years full-time service, when the pension is about 50% basic pay (indexed to RPI). Its all based on Civil Service rates. <img src="frown.gif" border="0">
Yes Beagle but unless I've read the small print incorrectly you have to make it as far as your 55th birthday to get the enhanced pension rate. If for some reason you need to leave a couple of years early you revert to the old specaircrew pension and therefore lose a lot of money! Not much comfort for those of who'll no doubt fail their annual medical at the age of 53 due to Gout!!
[ 05 February 2002: Message edited by: Specaircrew ]</p>
[ 05 February 2002: Message edited by: Specaircrew ]</p>
Join Date: Aug 2001
Location: Canada
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When reaching the final pension percentage figure of basic pay you have to add to the actual pension a figure of 1/3 of terminal grant. This is how the treasury works out the final percentage to then calculate if anyone who has subscribed to an AVC or FSAVC breaks the 66% limit on final salary. However I am told that anyone in receipt of additional, taxable pay, at retirement can use this real earnings figure to have a pension of 66% using the income from self funded schemes. Doesn't change the fact that ideally all pay should be pensionable by the employer.
Problem is that although there are very strict laws on max. contributions and final pensions etc. there are no laws dictating what an employer has to provide. Normal companies send details of the employment package/pension scheme disability/sickness schemes to prospective employees with the offer of employment. If the company doesn't offer a good package then they won't get the people. Who thought about the retirement package or were even told about it when they applied to join the Military?
Problem is that although there are very strict laws on max. contributions and final pensions etc. there are no laws dictating what an employer has to provide. Normal companies send details of the employment package/pension scheme disability/sickness schemes to prospective employees with the offer of employment. If the company doesn't offer a good package then they won't get the people. Who thought about the retirement package or were even told about it when they applied to join the Military?
Join Date: Dec 2001
Location: TheDarkSide
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The MOD sponsored Armed Forces Pension Review body are due to report in May this year.
Beware- new arrivals, changes inbound. Crusty's and cabbage smelling lifers, keep leagcy rights. The initial report is interesting reading! <img src="frown.gif" border="0">
Beware- new arrivals, changes inbound. Crusty's and cabbage smelling lifers, keep leagcy rights. The initial report is interesting reading! <img src="frown.gif" border="0">
Join Date: Feb 2000
Location: UK
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Surely, it's not a pension, but military retired pay? If it is indeed a pension then how can a senior airship retire on a 'pension' equivalent to 100% salary? . .Conclusion1: Senior airships don't retire so there is still an opportunity for Wrotten to resign.. .Conclusion2: If it is military retired pay and NOT a pension then why would there be any restriction other than tight purse strings?
Keep the goal-posts moving and no-one will score!
Keep the goal-posts moving and no-one will score!
