Lump sum question

[StickyFingers]

AFPS 15 is breaking my head.

You get an EDP lump sum paid immediately on discharge, but if you you commute you get an extra lump sum but it's at SPA and a reduced pension after that? You don't get any extra money at your discharge?

The AFPS 75 you can boost your Lump sum by commuting and get a "reduced" pension straight away

If you do not commute any AFPS 15, you'll need not get any lump sum at SPA just your increased pension?

Am I reading that right? I tried looking for this question if it's been asked before (I'm sure it must have) but all the three letter pension abbreviations bend my head, here's hoping we all go back to plain old 1 pension only when the government realises it was all illegal moving us onto AFPS 15

 

[Dan_Brown]

Join the FPS - best £40 ever, an IFA would charge £££'s.

When i got a pension forecast from the FPS, it was broken down into a table that explained (with real figures!) exactly what option would give what entitlement.

 

[Vauxhall]

Have a read of the pensions article in the magazine at link, StickyFingers.

Pathfinder International magazine

cloud.3dissue.com

 

[StickyFingers]

Have a read of the pensions article in the magazine at link, StickyFingers.

Pathfinder International magazine

cloud.3dissue.com

Will do cheers for that.

Just seen this though:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/867267/20200212-AF_REM-MAJOR_MCCLOUD_UPDATE-V3-O_-_11.2.20_SW.pdf

Might not even have to deal with that whole confusing AFPS15 garbage