FTRS Post
 

Okay, since response time to any query is usually pretty quick from this forum I would like to pose this question:

If you are in receipt of an Immediate Pension (IP) and after a (short) period of time after leaving the service then accept an FTRS post at a rank higher than when you left, what is the impact on your pay and IP?

As I understand it, the rules state that your new rate of pay together with your IP should not exceed the rate of pay (adjusted to the RPI) of when you left. So does this mean that if you took an S02 post after leaving on an S03 salary that you cant earn the S02 salary for the FTRS post??

I would fully expect to have the IP suspended (fair enough) but I wouldn't excpect the rate of pay for an S02 position to be reduced to your last annual rate of pay as an S03... or am I being blinkered?

Can anyone help or point me in the right direction? :ugh:

OM38

Lets talk numbers.

SO3 at £30k gets a pension of £10k.

Takes an SO3 FTRS HC gets £24.5k and gets pension cut to £4.5k.

Thereafter both are index linked or payrise linked. I guess the whole pension is linked but only the £4.5 increase is paid.

Takes an SO2 FTRS gets £35k. Full stop. That's the way I see it. Pay for the job but no extra on account of pension.

SO2 FTRS HC would get £29.75k + pension of £250.

S1ht? That's my reading. As OpsMan I would guess flying pay in not in issue.

Doesn't look good does it but and there is a big BUT.

You retain your gratuity. You retain your SO3 pension rights and you start earning SO2 pension rights. Also 3% of £35k is more than 3% of £30k.

Now look at the other end of the telescope.

You stay in as SO3. You get no immediate gratuity. You still get £30k and you do not get your pension to which you would be entitled if you came out - in other words, compared with the 37 year old next to you you are now earning £20k.

Unfair? Yes. No brainer? Probably.

Good luck.

Don't forget that if you've commuted any pension under AFPS 75, you'll have to pay that back when joining as FTRS. Under AFPS 05, you'd have to pay back your Early Departure Payment when you rejoin as FTRS.

Commutation - very true BUT

there would be ample time for Mrs OM to buy her conservatory, go on a holiday, buy a Porsche etc.

As there would be no free pool of cash with which to fund the repayment Mr OM would have to beg for extended repayment terms. As Mr OM's expenses prior to retirment were considerable he would need time to pay, say over 10 years :}

I know this happened for re-entrants having to repay the gratutity but not sure exactly how long a time they could be given to make the repayments.

FTRS
 

I made some tentative enquiries about FTRS a little while ago and was given the impression that you only had the pay back the dosh if you rejoined as FTRS within 2 years of leaving the RAF.

Regards

F.O.D

'New EDP Scheme' - Lumpsum Payback
 

If you leave under the 'new' scheme you pay back the lump sum on a decreasing scale up to a period where you have been deemed to have paid it back.

eg: EDP lump sum 50k, monthly gross pay at leaving 2.5k (for easy sums :) gives a payback period of 50 / 2.5 = 20 months before you can take up FTRS (or rejoin) without paying back the lump sum.

I understand that you lose the monthly EDP anyway, but the value would increase in relation to further time in uniform.

Its all in JSP 764, but not written in clear english. There is (or was when I was asking) a very helpful lady SO2 at HW for the light blue, not sure about the dark blue or brown admin support.

Look at : http://defenceintranetds.diiweb.r.mi...5%20MMP116.pdf

The way I read it, it is your pension that cannot be used to oush you above your previous earnings level. If your new job as SO2 pays more than your old job at SO3 then you will be paid the rate for the job and have 100% of your pension abated.

Thanks
 

All good info, thanks...

There is no Porsche but duscussions concerning conservatory are still ongoing!! :)

OM