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Forum: Military Aviation

8th Feb 2021, 12:06

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

ONS has (this morning) announced a 21% increase...

ONS has (this morning) announced a 21% increase in government pension liabilities - including £1.2trn for unfunded defined benefit pension entitlements for public sector employees, equal to 55% of...

Forum: Military Aviation

4th Feb 2021, 10:58

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

The risk-cost has been consigned to the...

The risk-cost has been consigned to the government down the road. In itself, it means that huge uncertainty will prevail and the cost (whatever it will be) be be transferred to those following on.

Forum: Military Aviation

4th Feb 2021, 10:55

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

The consultation. ...

The consultation.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/958189/20210129_PRP_consultation_response_final.pdf

Forum: Military Aviation

20th Jul 2020, 17:49

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

MPs believe that too much of the various reliefs...

MPs believe that too much of the various reliefs and benefits granted for retirement planning (think free money/tax free cash/accrual etc) are going to those who shouldn’t be having such a large...

Forum: Military Aviation

20th Jul 2020, 10:26

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

And as if by magic, Jo is reporting this morning...

And as if by magic, Jo is reporting this morning that the public accounts select committee has called for a wide reaching review into pension reliefs and whether the £38bn “opportunity cost” of...

Forum: Military Aviation

19th Jul 2020, 22:54

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

Don’t think for one minute The Treasury can’t and...

Don’t think for one minute The Treasury can’t and won’t change anything if it sufficiently serves its purpose, even accrued rights. It wouldn’t be so overt as to do it obviously, all it has to do is...

Forum: Military Aviation

19th Jul 2020, 22:39

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

Sorry, no idea. ‘Scheme rules’ seems plausible...

Sorry, no idea. ‘Scheme rules’ seems plausible though.

Forum: Military Aviation

19th Jul 2020, 22:35

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

Are you hoping that an abated AFPS75 income will...

Are you hoping that an abated AFPS75 income will result in a beneficial (to you) LTA (re)calculation? No, it won’t. The position is that you will be liable to two BCE at the point of initial...

Forum: Military Aviation

4th Dec 2019, 15:36

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

There are a number of Benefit Crystallisation...

There are a number of Benefit Crystallisation Events (BCE) which apply at the time and point you trigger one of them. It’s at that point that your ’pot’ (notional or otherwise) is calculated and a...

Forum: Military Aviation

4th Dec 2019, 11:21

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

The variables are endless. What I will be...

The variables are endless. What I will be shortly doing is writing to the Secretary of State and going on record as an interested person. The problem is, as a non expert individual, you simply...

Forum: Military Aviation

4th Dec 2019, 07:41

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

Jambo, .. just one reason why this is going...

Jambo,

.. just one reason why this is going to be a rat’s nest. Another aspect of ASPS15 though, in common with all other public sector pensions of the time, is that the Scheme Normal...

Forum: Military Aviation

4th Dec 2019, 07:06

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

I wonder how many left because the ‘second wind’...

I wonder how many left because the ‘second wind’ payment had changed. Out of interest, will reverting to 05/75 mean there is no offer of employment until 60?

Forum: Military Aviation

3rd Dec 2019, 17:56

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

It would be futile. I don’t know if HMG will...

It would be futile.

I don’t know if HMG will simply authorise restitution or go down the compensation route. The possibilities are mind boggling. I have no doubt that many will have been severely...

Forum: Military Aviation

3rd Dec 2019, 14:37

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

It relates to the public sector, not just AFPS.

It relates to the public sector, not just AFPS.

Forum: Military Aviation

3rd Dec 2019, 14:35

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

You wouldn’t. I was assuming that more still in...

You wouldn’t. I was assuming that more still in service and compulsorily transitioned, will have done so from 05 by now, that’s all. The remedial work required is going to be mind boggling.

Forum: Military Aviation

3rd Dec 2019, 14:02

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

‪This looks like everyone in Armed Forces Pension...

‪This looks like everyone in Armed Forces Pension Scheme who was erroneously moved into AFPS15, will be returned to membership their previous scheme (most likely AFPS05). ‬

‪Remedying the...

Forum: Military Aviation

31st Jan 2019, 22:01

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

More info. ...

More info.

https://www.ftadviser.com/pensions/2019/01/31/govt-faces-4bn-pension-cost/

Forum: Military Aviation

30th Jan 2019, 18:59

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

I only dread to think how lifetime allowance...

I only dread to think how lifetime allowance headroom/breaches will be calculated/recalculated, if benefits increase.

Forum: Military Aviation

30th Jan 2019, 18:05

Replies: 302

AFPS15 - government decision.

Views: 128,747

Posted By Al R

AFPS15 - government decision.

In December, The Fire Brigades Union won a landmark ruling in its dispute with the government over changes made to firefighters’ pensions in 2015. It signaled that younger firefighters on the new...

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