Pensions Alert
Join Date: Dec 2002
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SSC to PC? Wise move?
This is all very interesting (if somewhat worrying) reading. The current pension deal for offrs on a PC is obviously quite a good one. I'm on a 12 yr SSC at the moment and wonder if I should be applying for a PC to avoid missing out on the pension if the situation changes (and reserved rights are allowed). Does anyone have any advice? From what I can tell I don't lose any rights if I transfer but have the option of the IP if I stay for 16 yrs (if the govt don't whip that away).....
Thanks
Thanks
Join Date: Nov 2002
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Thanks to those highlighting this. Bit busy away at the moment and out of the loop on current issues. I'm still early on into a PC, but if there isn't the security of a pension on offer at 16/38 yrs point, I'm out. Watching this thread with interest.
TheWelshOne
On leave at the moment (yes, I know, amazing isn't it), so I haven't seen the letter "the Sqn Ldr from STC sent..". You say it is BIG STUFF! Can you/somebody please tell me briefly what it is about. Cheers!
On leave at the moment (yes, I know, amazing isn't it), so I haven't seen the letter "the Sqn Ldr from STC sent..". You say it is BIG STUFF! Can you/somebody please tell me briefly what it is about. Cheers!
Join Date: Jun 2001
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Biggus, I'm not quite sure how you have managed not to see it, bearing in mind it's six posts above yours!!?
A little note I saw recently did specify that existing pension arrangements won't be changed, but I'm not entirely convinced. I'm watching with slightly concerned interest and just quietly investigating the options outside if we all get shafted.
A little note I saw recently did specify that existing pension arrangements won't be changed, but I'm not entirely convinced. I'm watching with slightly concerned interest and just quietly investigating the options outside if we all get shafted.
It is amazing how much detail one notices when working on the night shift. This really could be a bat right up the ar$e. If one wants to leave before April 2004 and is OOA there might not be time to PVR and give the years notice. Any thoughts?
Join Date: Oct 2000
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Like I said before, PMA needs to start telling us the facts now - the 2004 deadline if it comes about allows nobody to restructure their finances, especially if you are planing to come out in 2011 say.
The letter in question was sent to a 1* in PMA and it would be good to see the reply - either in toto or just the pertinent parts.
I do not think they can stop people leaving but prob would enforce a min waiting time.
Worrying........
The letter in question was sent to a 1* in PMA and it would be good to see the reply - either in toto or just the pertinent parts.
I do not think they can stop people leaving but prob would enforce a min waiting time.
Worrying........
Attended a PLT brief today and they emphasised that personnel in the current scheme have preserved rights and that you cannot be forced to change schemes.
Well, I'm only reporting what they say. But as I'm counting the months (soon to be weeks), it won't affect me one way or the other.
RubiC Cube
Well, I'm only reporting what they say. But as I'm counting the months (soon to be weeks), it won't affect me one way or the other.
RubiC Cube
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Having re-read the DCCIS (or whatever) internal briefing note, the only thing that they have said the MOD has opted out of is the possibility of raising the retirement age, based on the fact that the Forces have fitness requirements that would make this unrealistic.
No mention of the MOD being exempt from the loss of immediate pension at 16yrs for officers and just a reminder that Gordon made no suggestion of taxing the gratuity in the last Budget.
This does of course raise two little points...
1. If there is no gratuity, you don't have to tax it.
2. Just because he didn't mention it last time doesn't mean he won't next time!
Still worried and watching with concern!!
No mention of the MOD being exempt from the loss of immediate pension at 16yrs for officers and just a reminder that Gordon made no suggestion of taxing the gratuity in the last Budget.
This does of course raise two little points...
1. If there is no gratuity, you don't have to tax it.
2. Just because he didn't mention it last time doesn't mean he won't next time!
Still worried and watching with concern!!
Join Date: Feb 2003
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After speaking with Pensions at PMA they confirmed that the Govt are trying to rush new legislation through and have it in place by next Apr 2004. I was assured!! that everyone who has already completed 16/22 qualifying yrs before the 2010 deadline would retain their present entitlements at retirement after this year. However, for those leaving after this date and not having achieved 16/22 yrs before 2010 the outcome may be uncertain.
An aside to the qualifying time is that officers need to complete 16 yrs service from age 21; I know of at least one officer who recently left at age 37yrs with his pension intact as the rules clearly state officers can go once they have completed 16 full years!! This may help personnel who are close to retiring around 2010.
Finally, give Pensions at PMA a call as they're quite happy to explain what they know in relation to particular instances, your friendly Gen Office have the relative number.
An aside to the qualifying time is that officers need to complete 16 yrs service from age 21; I know of at least one officer who recently left at age 37yrs with his pension intact as the rules clearly state officers can go once they have completed 16 full years!! This may help personnel who are close to retiring around 2010.
Finally, give Pensions at PMA a call as they're quite happy to explain what they know in relation to particular instances, your friendly Gen Office have the relative number.
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I sent a letter similar to Chutley's to my MP on Monday (24 Feb 03) and got a reply today. The letter says that he is looking into the matter and will let me know the outcome.
I shall keep you posted...Can I suggest that all those interested do the same. If you don't know who your MP is ( transient lifestyle - NI, Bosnia, Surrey etc) then have a look at www.faxyourmp.com and find out.
On further investigation, you cannot be prevented from leaving if you apply to PVR, but may have to wait a full year before being able to do so instead of doing a runner after 7 months( as WelshOne alluded to).
G
I shall keep you posted...Can I suggest that all those interested do the same. If you don't know who your MP is ( transient lifestyle - NI, Bosnia, Surrey etc) then have a look at www.faxyourmp.com and find out.
On further investigation, you cannot be prevented from leaving if you apply to PVR, but may have to wait a full year before being able to do so instead of doing a runner after 7 months( as WelshOne alluded to).
G
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Gijoe
My words were:
"I do not think they can stop people leaving but prob would enforce a min waiting time".
I cannot find in my 2 posts where I alluded to 7 months or whatever you quoted - you said a fact and I stood by what you said - so get your facts right before typing.
Minor in nature but I hate people who misquote other people comments.
Anyway - glad that people are taking note and making enquiries and I am sure PMA will 'brief' us soon I hope.
My words were:
"I do not think they can stop people leaving but prob would enforce a min waiting time".
I cannot find in my 2 posts where I alluded to 7 months or whatever you quoted - you said a fact and I stood by what you said - so get your facts right before typing.
Minor in nature but I hate people who misquote other people comments.
Anyway - glad that people are taking note and making enquiries and I am sure PMA will 'brief' us soon I hope.
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The issue got mentioned in parliament on Monday and was quickly glossed over by Hoon (or it could have been Dr Moonie) saying a full report would be issued and he could not comment until then - the Govt are making fast moves on this one to introduce it before you can even say Premature............
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Question was raised by Angus Robertson MP for Moray ie ISK and Lossie. Reply from Dr Moonie.
http://www.thisisnorthscotland.co.uk...tentPK=4484528
Above link is from the Press and Journal and sums it up
http://www.thisisnorthscotland.co.uk...tentPK=4484528
Above link is from the Press and Journal and sums it up