A question about the old pension

[zipfish]

I remember from my pension brief that whilst the new pension scheme is based on your final salary, the old one is based on you rank when you leave.

When I leave the RAF, I will get the same pension as all the other people of my rank that leave on that particular day (it fluctuates daily, so your pension is based somewhat on luck and what the markets are doing the day you leave).

Does anyone know whether your payband is relevant? I mean does it matter if you are on the high or the low payband? or do all people of that rank gett he same regardless?

Similarly now that we have incremental pay, how does this affect it? Would someone leaving on payband 3 get the same pension as someone leaving on payband 7 etc?

 

[Realist78]

I remember from my pension brief that whilst the new pension scheme is based on your final salary, the old one is based on you rank when you leave.

When I leave the RAF, I will get the same pension as all the other people of my rank that leave on that particular day (it fluctuates daily, so your pension is based somewhat on luck and what the markets are doing the day you leave).

Does anyone know whether your payband is relevant? I mean does it matter if you are on the high or the low payband? or do all people of that rank gett he same regardless?

Similarly now that we have incremental pay, how does this affect it? Would someone leaving on payband 3 get the same pension as someone leaving on payband 7 etc?

All people of the same rank get the same if they've served the same number of years. The payband is irrelevant, it's just time served. Have a look at AP 3392 on the intranet, the table gets updated about june/july time.DT_Xtremez_28:

 

[Humble Scribe]

I remember from my pension brief that whilst the new pension scheme is based on your final salary, the old one is based on you rank when you leave.

When I leave the RAF, I will get the same pension as all the other people of my rank that leave on that particular day (it fluctuates daily, so your pension is based somewhat on luck and what the markets are doing the day you leave).

Does anyone know whether your payband is relevant? I mean does it matter if you are on the high or the low payband? or do all people of that rank gett he same regardless?

Similarly now that we have incremental pay, how does this affect it? Would someone leaving on payband 3 get the same pension as someone leaving on payband 7 etc?

If you're on the AFPS75 (the old one), you pension is worked out on your rank when you leave and your years service (from age 18); nothing to do with higher/lower pay band or incremental level. So long as you've done 2 years in rank and completed 22 years service, you should get the full pension quoted in the pension rates. I'm not clever enough to give you a link but if you log onto the defence intranet, click on the Admin tab and look up RAF Pensions you should find the new rates applicable from 1 Apr 2007. You should get a gratuity of 3 times the pension rate (tax free) and a monthly pension which is taxable. Under JPA you will need to wait a bit longer to receive your gratuity probably 3 weeks or so.

 

[Mug?]

Now you ask??

Now you ask??

On the old scheme a level 7 high band CPL will get the same as a level 1 Low band CPL. they are fixed figures, about 8 1/2K with about £26K gratuaty I think at 22 yrs. Its fixed and will go up at 65 now for time served after April 04

On the new scheme it is based on final salary (average over 12 or 24 months- and includes taxable extra pay. ie LSA, subbie pay) Hence get your DETs in your last year and if you acting up all the better..!!

As you say It used to depend on increment level, but pay 2000 got rid of that so all the rates are based purely on rank and time done since 18.

Not getting into a which is better argumant, as its all too late now.....

 

[vim_fuego]

When you use the online calculator it asks you what level you are for your rank...ie high payband sgt on level 5...Why would it do that if it's not using the info to calculate it?

 

[Humble Scribe]

When you use the online calculator it asks you what level you are for your rank...ie high payband sgt on level 5...Why would it do that if it's not using the info to calculate it?

They would only use that for the AFPS 05; you wouldn't need your pay level for the 75 scheme.

 

[PH II]

Google Armed Forces Pension

Google Armed Forces Pension

Rather than second guess your pension I would advise that anyone concerned about their pension 'Googles' Armed Forces Pension. This will take you to the actual pension calculator that Glasgow use when you call them. Obviously the figures are based on this years pay so are only a rough guess but by spending some time playing with figures you should get all of the answers you require. Out of interest, It is also available through your JPA page so you can do it at work.

 

[busby1971]

Some relevant answers

Some relevant answers

I remember from my pension brief that whilst the new pension scheme is based on your final salary, the old one is based on you rank when you leave.

Yes, Rank and length of recconable service

When I leave the RAF, I will get the same pension as all the other people of my rank that leave on that particular day (it fluctuates daily, so your pension is based somewhat on luck and what the markets are doing the day you leave).

You will get a pension that reflects your rank and length of recconable serivice, only if somebody leaves with the same length of recconable service and rank will they get exactly the same pension. The rate is not based on luck nor is it based on the markets, it is underwritten by the Govt and linked to the RPI.

Does anyone know whether your payband is relevant? I mean does it matter if you are on the high or the low payband? or do all people of that rank gett he same regardless?

Paybanding is irrelevant for AFPS 75 as is Pay level, only your rank and recconable service.

Similarly now that we have incremental pay, how does this affect it? Would someone leaving on payband 3 get the same pension as someone leaving on payband 7 etc?

It doesn't, if they are the same rank and same length of recconable service

If you are leaving as a JNCO unless you have done something out of the ordinary you will have been out of pocket if you lived and transferred to the new scheme. The new pension scheme only benefitted the dead, officers and Chf Techs and above who did about 32 years service and above.

 

[treen74]

Heres a meaty one to chew on -

If one has done 10 years from 90-2000 (PVR'd after 9 years and left 1 year later)as an SAC and then joins up again and say does 12 years (and is at least a sgt) = 22 years. What sort of pension would be on the cards?

cheers

 

[busby1971]

About as meaty as a pegs burger.

About as meaty as a pegs burger.

Heres a meaty one to chew on -

If one has done 10 years from 90-2000 (PVR'd after 9 years and left 1 year later)as an SAC and then joins up again and say does 12 years (and is at least a sgt) = 22 years. What sort of pension would be on the cards?

cheers

As long as your 10 years were under any regular AFPS scheme then the years will normally be added together to give a total sum (as long as all the time served was over 18).

You would need to ask for an individual work out from Kentigern to confirm this, when/if you rejoin your contract should have taken into account your previous service to reflect this.