AFPS15 - government decision.
Join Date: Jul 2007
Location: Germany
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Thank you downsizer for posting that.
Questions remaining now are (1) when and (2) will it really be done fairly, for example: Statutory interest of 8% for late payment? Tax free status of gratuity? Tax liability for those now non-resident in UK and receiving delayed pension income?
Questions remaining now are (1) when and (2) will it really be done fairly, for example: Statutory interest of 8% for late payment? Tax free status of gratuity? Tax liability for those now non-resident in UK and receiving delayed pension income?
that could be a 20% charge imho.
Join Date: Nov 2013
Location: stoke
Age: 61
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It's definitely an interesting development, a step forward.
It only dawned on me yesterday why not everyone was offered MEOS automatically in what is supposed to be a retention positive Force. It has been used as a further filter/ boarding process for some, whilst many were just placed on it carte blanche. Possibly dirty tricks, possibly an effort to maintain a two tier system. If you are not a rejoiner/ late starter, and have not been offered it, then it's quite likely you need to consider why.
In the grand scheme of things, if I get my choice (05) then whatever retention leverage they have attempted, that I never knew about, has failed.
If you are fed straw, then you will fight as a donkey.
It only dawned on me yesterday why not everyone was offered MEOS automatically in what is supposed to be a retention positive Force. It has been used as a further filter/ boarding process for some, whilst many were just placed on it carte blanche. Possibly dirty tricks, possibly an effort to maintain a two tier system. If you are not a rejoiner/ late starter, and have not been offered it, then it's quite likely you need to consider why.
In the grand scheme of things, if I get my choice (05) then whatever retention leverage they have attempted, that I never knew about, has failed.
If you are fed straw, then you will fight as a donkey.
Forces Pension Society Update
Some positive news for those affected.
https://forcespensionsociety.org/202...-the-treasury/
#stayhome
#protectthenhs
#savelives
https://forcespensionsociety.org/202...-the-treasury/
#stayhome
#protectthenhs
#savelives
Only this 'pause' after the recent recalculation of post-15 pensions that didn't go in the direction that the government had hoped, especially when it tipped the cost control calculation scales so heavily in its favour in the enabling legislation:
As we all expected, the government is most eager to implement changes that negatively impact the value of public sector pension, but not the other way around. The arbitrary linking of the government-triggered (and legally dubious) 'pause' on one issue as justification to slow the implementation of a court-ordered resolution of another is more than a little perverse.
With a government that so readily breaches its own legislation and defers implementation of legal judgements there is very little hope of things moving forward.
On 27 April this article was published by Professional Pensions regarding the Fire Brigades Union’s (FBU) latest legal action against the Government relating to pension benefits delays. The main issues are:
McCloud and cost control mechanisms are both complex issues and our CE has been fully involved in the McCloud technical discussions with the MoD.
- The FBU and other unions are challenging the “pause” to the implementation of the public sector pension scheme ‘cost control’ exercise which would have triggered an improvement in some, mainly 2015 Scheme benefits or a reduction in employee contributions (or both), and
- the Government’s assertion that the continuation of this “pause” is appropriate while discussions on how to do address the McCloud discrimination continue.
McCloud and cost control mechanisms are both complex issues and our CE has been fully involved in the McCloud technical discussions with the MoD.
Improved benefits for firefighters after the December 2018 court win were delayed in January last year. Chief secretary to the Treasury Liz Truss said the pause would remain in place until the government digested the consequences of a different case relating to age discrimination, brought by firefighter members of the pre-2015 schemes, which the government also lost.
The FBU has called the delay an excuse for the government to pass on the cost of "a number of unlawful discrimination cases". By incorporating these extra costs, the FBU and unions argue the government could then claim that the cost of the scheme had risen above predetermined levels, therefore reducing employee benefits.
"Ministers know full well that they are in breach of the regulations which clearly state that if the cost of financing the scheme drops, then the benefits should be passed onto members."
In addition to firefighters, the outcome of the case could also affect pension schemes members working in local government, the NHS, teachers, police, armed forces and civil servants who joined on or after the start of the 2012/13 financial year.
Wrack added: "Refusing to accept this and pausing the process amounts to a dirty trick which now means many of those in the scheme will have had their improvements withheld for over a year - worst still is that this robbery has been carried out by millionaire ministers.
The FBU has called the delay an excuse for the government to pass on the cost of "a number of unlawful discrimination cases". By incorporating these extra costs, the FBU and unions argue the government could then claim that the cost of the scheme had risen above predetermined levels, therefore reducing employee benefits.
"Ministers know full well that they are in breach of the regulations which clearly state that if the cost of financing the scheme drops, then the benefits should be passed onto members."
In addition to firefighters, the outcome of the case could also affect pension schemes members working in local government, the NHS, teachers, police, armed forces and civil servants who joined on or after the start of the 2012/13 financial year.
Wrack added: "Refusing to accept this and pausing the process amounts to a dirty trick which now means many of those in the scheme will have had their improvements withheld for over a year - worst still is that this robbery has been carried out by millionaire ministers.
With a government that so readily breaches its own legislation and defers implementation of legal judgements there is very little hope of things moving forward.
McCloud
Nothing yet ... but MOD's work will not have been helped by the necessary COVID-19 restrictions.The next stage is a comprehensive public consultation this summer although the dates have not yet been published by HMT.
Those in service should keep an eye on MODNet for updates. Other readers, including in service personnel, can access our website for updates - we post as soon as we have news.
I see the same
Choose whatever pension you want for now, but a date in 2022, tough luck. This time there’s no age connection.
RoS on PAS will cripple some now, another trawler sized net to keep BTA content.
Everyone is different, this seems more of the same. It straightens out those that stayed on 05 and subsequently got extended but then stayed on 05,’ the winners’.
Lots to hear on this I think, good luck!
Choose whatever pension you want for now, but a date in 2022, tough luck. This time there’s no age connection.
RoS on PAS will cripple some now, another trawler sized net to keep BTA content.
Everyone is different, this seems more of the same. It straightens out those that stayed on 05 and subsequently got extended but then stayed on 05,’ the winners’.
Lots to hear on this I think, good luck!
AFPS 75 vs 15
I haven’t read all the details yet but I’ve said it before and I’ll say it again.
Take away my accrued pension benefits and I have no real reason to stay. Even in the current climate.
BV
Take away my accrued pension benefits and I have no real reason to stay. Even in the current climate.
BV
Bob, it mentions what’s accrued stays yours. It seems that those due to retire by 22 keep their choice of pension, those after don’t and will have to take 15. Same as before, but this time not an age based decision. More of the same, it’s just a date not an age.
I think that’s the first bit, and that you can. Come the day in 2022 then whether you did or didn’t revert back is irrelevant, you are going to Pens15, but with perhaps 2 extra years on 75/ 05 accrued. This is not a godly moment for those wanting a pure 75 or 05 pension. It’s a play on words and 2 years reprieve.
My understanding of reading the document is up until 2022 you can return to a pure '75. At that point everyone transfers to a mix of 05/75 and15; thus it isn't discriminatory as everyone transfers this time, not just those over a certain age.
So if I PVR’d now and got out before 2022 would it be with a full AFPS75 pension (I joined in 1999 and had 15.5/16 years of AFPS 75 before the 15 switch happened)? The most important aspect of which is full pension at age 55.
BV
BV
All service before 2022 is still on '75 terms if you want it to be so then. Service after 2022 is on '15 so you get a mix of the pension (75/15), just like now. It's not the end of the world but it alos isn't what many thought would happen either.