Life expectancy in retirement: mil/civvy differential (AFPS FAQ July 2013).
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Just tried it and apparently I died five years ago. Oh well, it must have been the drinking culture I was apart of
That explains a lot
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I wonder how smoking varies between military and civilians
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Indeed, Customs used to hand out seized cigarettes to to be shared out amongst the sections at Bruggen where you could go get 200 for free when wanted, eventually all that were left were Menthols.....
I don't own this space under my name. I should have leased it while I still could
Same on Ascension Island, free issue to smokers and non-smokers alike.
I joined a smoking crew on Nimrods. Gradually fewer and fewer smoked until one day the skipper crashed a round. There were no takers and he didn't want to smoke alone. I think he stopped not long after.
I joined a smoking crew on Nimrods. Gradually fewer and fewer smoked until one day the skipper crashed a round. There were no takers and he didn't want to smoke alone. I think he stopped not long after.
Smoking, drinking, rowdy lifestyle and a dangerous job. Some of the attributes previously encouraged, by the service, in most military careers. Also promised, was the pension. I hate to see promises broken .
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Jocky,
Yes, thats the one - thanks.
Once a Pilot,
It isn't just longevity. The Institute of Faculty and Actuaries made the point a couple of years ago that the problem, in the actuarial sense, of (for instance) drawing Reservists into an unfunded scheme after 2 years service is that AFPS is unfunded - where will the extra money come from? One of the points of laying SP off was to make public sector pensions save money and be financially viable (cue talk of kicking cans down road). People living longer is causing problems because in days gone by; you'd have a heart attack and carp it. Now, you can be saved but it costs an absolute fortune.. we're paying too much money to too many people living for too long.
Price Waterhouse Cooper was commissioned to study the differences between officer/other ranks and officer serve to aged 55/officer 'normal' pension benefits. It used Continuous Mortality Investigation (Mortality Projections) and relied upon a series referred to as PNA00, and then rebalanced each demographic. I can't locate the PNA00 series - it would just be a series of numbers; the methodology probably wouldn't be explained anyway. PwC (I think - I stand by to be corrected) simply took the view that officers were similar to a professional cohort in civvy street that lived longer than ORs and a similar cohort. But yes, you make the point about the MoD simply knowing how long folk draw retirement benefits; if DASA knows WHERE we retire to and work..
The PwC report also made the point that you have to be commissioned until aged 55 to really get the benefits of the scheme (one of the 5-6% or so).. and someone who dies early and leaves a 50% survivors benefit really is getting a mucky end of the stick - that aspect of AFPS compares very badly to an uncrystalised personal defined contribution scheme which goes over completely to the survivor, free of tax. I do think there should be scope for allowing flexible, higher AFPS income for those servicemen and women with reduced life expectancy; that would make for fairness, but an unwieldy and complicated political nightmare.
GR4 techie,
It wouldn't do you no good - those who aspire to socio-economic greatness tend to show smaller increases in lonevity benefits!
Yes, thats the one - thanks.
Once a Pilot,
It isn't just longevity. The Institute of Faculty and Actuaries made the point a couple of years ago that the problem, in the actuarial sense, of (for instance) drawing Reservists into an unfunded scheme after 2 years service is that AFPS is unfunded - where will the extra money come from? One of the points of laying SP off was to make public sector pensions save money and be financially viable (cue talk of kicking cans down road). People living longer is causing problems because in days gone by; you'd have a heart attack and carp it. Now, you can be saved but it costs an absolute fortune.. we're paying too much money to too many people living for too long.
Price Waterhouse Cooper was commissioned to study the differences between officer/other ranks and officer serve to aged 55/officer 'normal' pension benefits. It used Continuous Mortality Investigation (Mortality Projections) and relied upon a series referred to as PNA00, and then rebalanced each demographic. I can't locate the PNA00 series - it would just be a series of numbers; the methodology probably wouldn't be explained anyway. PwC (I think - I stand by to be corrected) simply took the view that officers were similar to a professional cohort in civvy street that lived longer than ORs and a similar cohort. But yes, you make the point about the MoD simply knowing how long folk draw retirement benefits; if DASA knows WHERE we retire to and work..
The PwC report also made the point that you have to be commissioned until aged 55 to really get the benefits of the scheme (one of the 5-6% or so).. and someone who dies early and leaves a 50% survivors benefit really is getting a mucky end of the stick - that aspect of AFPS compares very badly to an uncrystalised personal defined contribution scheme which goes over completely to the survivor, free of tax. I do think there should be scope for allowing flexible, higher AFPS income for those servicemen and women with reduced life expectancy; that would make for fairness, but an unwieldy and complicated political nightmare.
GR4 techie,
It wouldn't do you no good - those who aspire to socio-economic greatness tend to show smaller increases in lonevity benefits!
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PN,
I remember the cigar parades at Akrotiri - I never smoked but I remember NAAFI wanted them stopped though. For weeks afterwards, the armour would be thick with clouds of King Eddys; life was hell when we were battoned down but god.. we were a refined bunch.
dc,
Be careful!
Navy widow jailed over pension fraud - Echelon Wealthcare
I remember the cigar parades at Akrotiri - I never smoked but I remember NAAFI wanted them stopped though. For weeks afterwards, the armour would be thick with clouds of King Eddys; life was hell when we were battoned down but god.. we were a refined bunch.
dc,
Be careful!
Navy widow jailed over pension fraud - Echelon Wealthcare
Last edited by Al R; 10th Jul 2013 at 19:21.
"Mildly" Eccentric Stardriver
The death clock says I'll be around till just before my 93rd birthday. I intend to celebrate my century with a congratulatory email from King William and the thought of the pension trustees saying "Is that bugger STILL around?"
On thread again. Looking at the obituary pages, most of the older notices are ex-service. The suggestion is that the military only take those who are fit to begin with, and that will skew the figures.
On thread again. Looking at the obituary pages, most of the older notices are ex-service. The suggestion is that the military only take those who are fit to begin with, and that will skew the figures.
Thanks Al, I appreciate your efforts and info. I feel an FOI, requesting the historical pension payment statistics of service personel serving 30+ years and retiring at age 55 would be interesting. They have the info.
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The difference between being 'Normal' and 'Optimistic' is a staggering 16 years in my case. I love those surveys, in fact I think I can't stop smiling now. Just off to tell my neighbour that it will be sunny until Xmas.
It is my stated intention to live beyond my 90th birthday....this way I will have been out of the mob longer than I actually served so every day's pension after that is a bonus!!..........
Worth making an effort for!
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I kept clicking and it came up with a different day each time.
I'm going for the one in 2055 when I'll be 99 and 11 months.
I'm going for the one in 2055 when I'll be 99 and 11 months.
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I kept clicking and it came up with a different day each time.
I'm going for the one in 2055 when I'll be 99 and 11 months.
I'm going for the one in 2055 when I'll be 99 and 11 months.
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I remember the original thread on this subject. When I retired (for the first time) after 22 years, the stat's were that; if you were in any of the armed forces, police, ambulance or fire service, if you served until age 55, 75% died within 5 years of retirement.