Armed Forces pension
Of interest I wonder if anyone will sue for constructive dismissal and/or unfair renumeration if they are not permitted to serve until 55 under AFPS 05, will be an interesting ruling........
Ironically, it might also keep a few extra people in, thus getting the benefit of the wisdom, experience and sheer native cunning won over years of dodging the enemy and the desk officer. After all, in the current climate retiring at 55 will leave most people wondering what to do for the next 5-10 years. Unless you have specialist skills or have reached a high enough rank to be attractive to industry for your contacts in the system, most of us will be sitting there wondering what's next while we wait for the official state retirement. Another 5 years of guaranteed income would probably be seen as an attractive option for some no doubt.
Of interest I wonder if anyone will sue for constructive dismissal and/or unfair renumeration if they are not permitted to serve until 55 under AFPS 05, will be an interesting ruling........
You can’t make a complaint of unfair dismissal if you are a:
Join Date: Jan 2001
Posts: 84
Likes: 0
Received 0 Likes
on
0 Posts
Not me fella. I will be wondering on my PAS Pension, do I actually have to get up this morning? Not really, you see if I earn a couple of hundred more per year I will be in the 40% tax bracket again. Who needs that?
Join Date: Jul 2007
Location: Germany
Posts: 1
Likes: 0
Received 0 Likes
on
0 Posts
Kruger, dont worry, your generation will be dribbling in your pea soup in care homes when mine will be able to return the favour for all the intergenerational theft thats gone on over the last 30 years!
Think the younger generation are getting screwed over a barrel right now? Just see what we can think up between now and then!
Think the younger generation are getting screwed over a barrel right now? Just see what we can think up between now and then!
Join Date: Dec 2001
Location: Pantsville
Posts: 77
Likes: 0
Received 0 Likes
on
0 Posts
....or what about those that transfered to 05 on the basis of the pension calculator and will not receive the figures that made them do so? Will they be able to revert to '75?
Join Date: Feb 2012
Location: Band Camp
Posts: 18
Likes: 0
Received 0 Likes
on
0 Posts
From what I recall from a pensions brief to PSF staffs recently, the resettlement commutation is an accrued right and therefore should be available to individuals after the new scheme is introduced for the AFPS 75 element of their pension. Service to age 60 is being looked at by the New Employment Model Team and is more a Terms and Conditions of Service issue than a pension one, though they are clearly very closely linked. As for PAS, I would expect that you would still have to complete your 5 yrs ROS. Once completed the supplements you earned up to the introduction of the new scheme would be paid as part of your AFPS 75 pension with the remainder paid as part of your career average earnings pension.
Not me fella. I will be wondering on my PAS Pension, do I actually have to get up this morning?
Join Date: Feb 2002
Location: In the State of Denial
Posts: 1,078
Likes: 0
Received 146 Likes
on
28 Posts
I guess you just lacked the specialist skills or didn't get promoted
Thread Starter
Join Date: Feb 2010
Location: Stockport
Age: 67
Posts: 136
Likes: 0
Received 0 Likes
on
0 Posts
Being a blunty he wont know what PAS is Ken. Nor will he ever experience its advantages of not having to organise endless Summer Balls to get promoted to Sqn Ldr in order to be given all the crappy jobs that the Wg Cmdr doesn't want to do, whilst still leaving with a Wg Cdrs Pension.
As for working in Tesco, Aldi actually pay better hourly rates but why would I want to pay 40% tax?
As for working in Tesco, Aldi actually pay better hourly rates but why would I want to pay 40% tax?
Is there any ground for legal challenge in the fact that transfer to AFPS15 is mandatory for those on AFPS75 (and 05)??
That of course 'assumes' there is even any mention of plans for those with less than 10 years to go...
Thread Starter
Join Date: Feb 2010
Location: Stockport
Age: 67
Posts: 136
Likes: 0
Received 0 Likes
on
0 Posts
This is directly from the DIN.
Hope that helps.
Additionally, all members of Public Service Pension Schemes within 10 years of their Normal Pension Age on 1 Apr 12 will see no change to the amount of pension they will receive or the time at which it can be drawn. This means that:
• Members of AFPS 75 and AFPS 05 who are aged 45 or over on 1 Apr 12 will be able to remain on their current pension schemes and their benefits will be unaffected; and
• Members of AFPS 75 and AFPS 05 who are aged 45 or over on 1 Apr 12 will be able to remain on their current pension schemes and their benefits will be unaffected; and
ll Service personnel who are aged under 45 on 1 Apr 12 will be automatically enrolled into new AFPS when the new scheme starts. Thereafter, any further pension rights they earn will be in the new scheme.
Join Date: Sep 2005
Location: Odiham
Posts: 191
Likes: 0
Received 0 Likes
on
0 Posts
will there still be the option to commute part of the pension into a larger tax free lump sum post apr 2015?
Whilst I have no intention of spending my entire Friday evening/weekend looking at the DIN I do have access to it and have read it so if anyone who can't get sight of it and has any basic questions I will try and oblige.
Join Date: Feb 2007
Location: Oxon
Age: 66
Posts: 1,942
Likes: 0
Received 0 Likes
on
0 Posts
Join Date: Feb 2002
Location: In the State of Denial
Posts: 1,078
Likes: 0
Received 146 Likes
on
28 Posts
should get just over 33k a year as a pension and 3 times that as a hand out
Join Date: Feb 2007
Location: Oxon
Age: 66
Posts: 1,942
Likes: 0
Received 0 Likes
on
0 Posts