NEW NEM IBNs

[jayc530]

Downsizer

Promotion from from Chf Tech to FS or Sgt to FS only gives you LoS 35 not to age 55.

[Roland Pulfrew]

jay c

The IBN says that anyone who currently has service to 55 will retain the right to serve to 55. Or at least that was my reading of it.

[Climebear]

Originally Posted by jayc530

Downsizer

Promotion from from Chf Tech to FS or Sgt to FS only gives you LoS 35 not to age 55.

IIRC the mean average age of RAF recruits entering the Service has been 22-23 for some years now. So LoS 35 should benefit a fair proportion.

[5 Forward 6 Back]

Monkfish,

How does someone benefit from a career average pension based on level 20 through to 35 (AFPS15) versus a pension based on just level 35 (AFPS75)? I would have thought that someone on PAS would still be worse off on AFPS15? What am I missing??

An accrual rate of 1/70 on AFPS05 vs 1/47 on AFPS15. If your salary during your AFPS15 tenure is already at the top of your band, or is only going to increase a small amount, or you have less time to serve, this can benefit you.

If you only have 10 years to serve, 10 at 1/47 vs 10 at 1/70 is better if your average salary for those 10 years is near enough your final salary. Even a new-ish PAS person, 15 years at 1/47 on the average between £60k and £70k is better than 15 years at 1/70 on £70k.

Basically, have a look at the pension calculator. I have some forecasts that place me better off under a combined 75/15 pension in some ways.

[downsizer]

Quote:
Originally Posted by jayc530
Downsizer

Promotion from from Chf Tech to FS or Sgt to FS only gives you LoS 35 not to age 55.

Yes, that's what I was saying though reading it back it's poorly worded.