Pension Issues

[Robby]

Just a quick canvas of recent experience of the Lump sum and 1st pension payment?

I left the service on the 5th July and have still not seen any payments, when I ring the Veterans Agency a pre-recorded message saying that payments will be paid within 30 working days - which is next Fri! Apparently a DIN was issued but I had already left the service and it is all related to the introduction of AFPS15- another little hit we didn't expect!!

Has anyone else had a similar delay or a far quicker payment?

This might be really useful information for individuals planning to use the money to assist a house move/purchase 30 working days is a hell of a long time since I left the Service and a VERY long time since I finished work!

 

[busby1971]

A few years ago but lump sum was within a couple of weeks and pension got paid when it was due, left 3rd of April, 1st payment 3rd May, then every 3rd of the month.

 

[TG3 TILL I DIE!!!!]

Payment within 30 working days is the target for '15.

Traditionally you use to get the first payment after a month, now it could slip into the second month after leaving. So do you get a back payment for that missed month? Or is this a little delaying tactic to penny pinch off everyone leaving while blowing millions elsewhere?

 

[Vauxhall]

Just a quick canvas of recent experience of the Lump sum and 1st pension payment?

I left the service on the 5th July and have still not seen any payments, when I ring the Veterans Agency a pre-recorded message saying that payments will be paid within 30 working days - which is next Fri! Apparently a DIN was issued but I had already left the service and it is all related to the introduction of AFPS15- another little hit we didn't expect!!

Has anyone else had a similar delay or a far quicker payment?

This might be really useful information for individuals planning to use the money to assist a house move/purchase 30 working days is a hell of a long time since I left the Service and a VERY long time since I finished work!

I am afraid that the first payment has slipped to 'within 30 working days' rather than the '30 days' it used to be. The reason is that AFPS 15 calculations are based on 1/47th of pay and they wait until the final pay run (in your case end July) to determine what 1/47th of pensionable pay for the period is.

Forces Pension Society has raised this with them and they are working on finding a way to reduce the delay. I know it doesn't help you but it does explain what has happened and why.

 

[GOV1]

The DIN in question is for AFPS 15 only. I am on the AFPS 75.

Is the 30 working day payout the same?

 

[Vauxhall]

The DIN in question is for AFPS 15 only. I am on the AFPS 75.

Is the 30 working day payout the same?

Everyone got caught up in the delays and MOD have told us that they will work to single out people who have 75 and 05 benefits ONLY. I am afraid it looks like you haven't been included in the 'work around'. I can't apologise for MOD as the Forces Pension Society is not part of MOD but I am sorry to see what has happened.

 

[Robby]

Quick update

Quick update

Just a quick note to follow up from my earlier ditty, I got my payment at the 29th working day point, so all happy now. I did speak to JPAC on Wed and was really impressed with the service I got so all round a happy bunny- now just to wait for the first pension payment

 

[Robby]

Another little hurdle

Another little hurdle

Just a quick heads up on this subject - if you have three payments in a single month i.e. Final RAF pay, First Pension payment and First new salary payment your tax code goes haywire and they put you on High Payband coding! easily fixed but still a bit of a shock in particular as teh Tax man tells your employer and the Pension payment agency before they tell you!

Another top tip is if ringing the Tax Office try using the Intl Tel number and not the 0300 number, it is included in your mobile package, and I have always been answered within 2 minutes which I am told is a bit of a record!