Armed Forces Pension Increase April 2012
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Pension increase
Yes it has increased by 5.2%
However from a person who has a relative who was a sqd Ldr on departure of RAF on salary of £55K so 2/3rds pension before increase was £701 per week and now £741 per week which he is fully intitled too and earned over the years, it makes me feel a liitle ill to think people are actually complaining when this is the sort of money they can achieve! I understand for the lower ranks, but if any of these former officers on such salarys are complaining then they need to live in the real world! My other relative who also has worked hard all her life has retired on a pension from the NHS of only £360 A MONTH, yes a MONTH!
So get real you officer types!
However from a person who has a relative who was a sqd Ldr on departure of RAF on salary of £55K so 2/3rds pension before increase was £701 per week and now £741 per week which he is fully intitled too and earned over the years, it makes me feel a liitle ill to think people are actually complaining when this is the sort of money they can achieve! I understand for the lower ranks, but if any of these former officers on such salarys are complaining then they need to live in the real world! My other relative who also has worked hard all her life has retired on a pension from the NHS of only £360 A MONTH, yes a MONTH!
So get real you officer types!
Not quite sure the figures are correct as a Squadron Leader who retires at 55 on the highest pay level would only be entitled to £27742 a year which works out at £533.5 a week.
Not quite sure the figures are correct as a Squadron Leader who retires at 55 on the highest pay level would only be entitled to £27742 a year which works out at £533.5 a week.
I don't own this space under my name. I should have leased it while I still could
Just got my pension figures and the bottom line shows an increase of 4.11%. However is also gives the GMP amount increased from 6 Apr 12, that figure less GMP nnnn increased by 5.2% and then a new rate from 9 Apr 12 that is larger than the GMP figure it started with.
The amount actually being paid is a few thousands more than the New Rate shown.
Confused!
The amount actually being paid is a few thousands more than the New Rate shown.
Confused!
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Well, this ex-Sqn Ldr who retired at 53 now has a pension of £28272 a year (before tax), which works out at £542.21 for a (365/7) week.
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What rise is being discussed here?
I received my "Advice of Payment" yesterday and it confirms that I will receive during 2012/3, the exact same amount I received in the year 2011/2.
I received my "Advice of Payment" yesterday and it confirms that I will receive during 2012/3, the exact same amount I received in the year 2011/2.
Those in receipt of a pension following PVR do not receive any increases until they've passed their original NRD.
My pension was £1781.79 gross per month from the month after my PVR exit date until the month before my 55th birthday over 2 years later.
Did you PVR?
My pension was £1781.79 gross per month from the month after my PVR exit date until the month before my 55th birthday over 2 years later.
Did you PVR?
Last edited by BEagle; 26th Apr 2012 at 22:27.
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In about 36 mins time, my pension is optimised by date. That they are going up at all is good news and most welcome. Now got to consider whether to stick the next two years before retirement date or cut and run when I have lost sight of the good bits of military life. For the guys and girls who are less fortunate in retirement either by retirement age or pension value one has to say that we all choose the direction we take in life and whilst admiting that good fortune or luck can play its part so does embracing a career that provides long term security and there is little point in having a chip on your shoulder if you have chosen a lessor path to travel.
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Yes it has increased by 5.2%. However from a person who has a
relative who was a sqd Ldr on departure of RAF on salary of £55K so 2/3rds pension before increase was £701 per week and now £741 per week which he is fully intitled too and earned over the years, it makes me feel a liitle ill to think people are actually complaining when this is the sort of money they can achieve! I understand for the lower ranks, but if any of these former officers on such salarys are complaining then they need to live in the real world! My other relative who also has worked hard all her life has retired on a pension from the NHS of only £360 A MONTH, yes a MONTH!
So get real you officer types!
relative who was a sqd Ldr on departure of RAF on salary of £55K so 2/3rds pension before increase was £701 per week and now £741 per week which he is fully intitled too and earned over the years, it makes me feel a liitle ill to think people are actually complaining when this is the sort of money they can achieve! I understand for the lower ranks, but if any of these former officers on such salarys are complaining then they need to live in the real world! My other relative who also has worked hard all her life has retired on a pension from the NHS of only £360 A MONTH, yes a MONTH!
So get real you officer types!
Welcome. I'm not an 'officer type', so I won't make some class based philosophical statement other than a Sqn Ldr who commits to a long term career that demands and offers much in equal amounts is probably deserving of more recognition in retirement than someone who was in the ranks for 6 years and who may have done less.
I have a few clients who have started pensions for their kids (as did I for mine, a few years back). You don't have to set aside a lot now in order to make a difference in the future and someone in civvy street starting off a personal pension 25-30 years ago would have no reason not to be enjoying a similar retirement to the Sqn Ldr you mention, if they had planned ahead or focused on it properly. I accept that the NHS might pay less and that its harder to save more, but did your relative do that?
The officers of the future will have a more punitive retirement than the SNCOs of today (based on Future AFPS). Despite the incredible demands that are constantly placed on them these days (and far more than in my day), servicemen and women are discovering that their retirement could be a lot less rosy than it was - I hope that unfairness is of some consolation to you..? Finally, lets put all talk of retirement in context.
Inheritance Tax (IHT) exemption for veterans deceased following certain injuries - Echelon Wealthcare
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BEagle wrote;
Those in receipt of a pension following PVR do not receive any increases
until they've passed their original NRD.
My pension was £1781.79 gross
per month from the month after my PVR exit date until the month before my 55th
birthday over 2 years later.
Did you PVR?
No PVR here!
I completed my 22 about 14 years ago. When I received my notice a few days ago, I assumed it was on a freeze until reading this thread!
Those in receipt of a pension following PVR do not receive any increases
until they've passed their original NRD.
My pension was £1781.79 gross
per month from the month after my PVR exit date until the month before my 55th
birthday over 2 years later.
Did you PVR?
I completed my 22 about 14 years ago. When I received my notice a few days ago, I assumed it was on a freeze until reading this thread!