Public Sector Pension Ruling and the Armed Forces

[Vauxhall]

Hey Vauxhall, is there a substantial backlog in new applications for the Pension Society to get through? Payment was taken about 5 weeks ago but I've not heard anything and as I am out soon I had to submit the Pen1 form without waiting for the Societies recommendations.

Send me a PM with your details. As far as I know, the turnaround time is about 7 days at the moment.

 

[Vauxhall]

Hey Vauxhall, is there a substantial backlog in new applications for the Pension Society to get through? Payment was taken about 5 weeks ago but I've not heard anything and as I am out soon I had to submit the Pen1 form without waiting for the Societies recommendations.

I did not hear from you so I have sent you a PM

 

[Spearmint]

I did not hear from you so I have sent you a PM

PM replied to, thank you.

 

[Vauxhall]

See PM.

 

[Vauxhall]

Update as promised:

Government Announces 'McCloud' Public Consultation - Forces Pension Society

The public consultation is the next stage in the process to remove the discrimination identified by the courts in the 2015 pension reforms.

forcespensionsociety.org

 

[Talk Wrench]

Update as promised:

Government Announces 'McCloud' Public Consultation - Forces Pension Society

The public consultation is the next stage in the process to remove the discrimination identified by the courts in the 2015 pension reforms.

forcespensionsociety.org

Thanks Vauxhall.

I'm sure this will create a lot of much needed discussion with this subject.

 

[Downsizer]

So basically reading that, in 2022 if you are still serving you go to the'15 scheme then regardless? So in effect you can, if you want, go back to '75 from 2015 till only 2022?

 

[StickyFingers]

I'm struggling too. That mean we can get 7 more years of 75 pension (2015-2022) and then transition over to 15 for our last years?


Edit: literally wrote the same thing as Downsizer

 

[Downsizer]

I'm struggling too. That mean we can get 7 more years of 75 pension (2015-2022) and then transition over to 15 for our last years?


Edit: literally wrote the same thing as Downsizer

Thats exactly the way I read it. In 2022 everyone (if still in) goes to the '15 pension removing the age discrimination.

 

[StickyFingers]

Thats exactly the way I read it. In 2022 everyone (if still in) goes to the '15 pension removing the age discrimination.

Is it not still age discrimination as they are still making me/us go over onto it in 2022? I want pure AFPS75 for my whole career. One of the main reasons I signed on for my 22 is because of AFPS75, I'm only in the RAF now because of AFPS75, if I was on 05 or 15 I'd have been gone years ago.

 

[Downsizer]

I think their opinion is if everyone is forced to move it can't be discriminatory as everyone is the same boat?

So I guess that leaves you a choice of leaving on pure 75 at 2022 or a mix of 75/15 post 2022?

 

[StickyFingers]

I think their opinion is if everyone is forced to move it can't be discriminatory as everyone is the same boat?

So I guess that leaves you a choice of leaving on pure 75 at 2022 or a mix of 75/15 post 2022?

Yea, but I'll be on resettlement for that AFPS15 so it won't hurt too much

 

[Dan_Brown]

"I think from what it says scheme members will get the option of staying on AFPS15 or returning to their previous scheme, either 75 or 05.

The reference to transferring all active members to the reformed 2015 schemes on 31 Mar 22 is possibly meaning that the transitional protection granted when the scheme changed was for those who were within 10 years of their NPA on 31 March 2012. That means that all those with transitional protection should theoretically have pensioned out by 2022. Therefore they can let people go back to their pension for the period 2015-22 but then force everyone still serving onto AFPS15 in 2022 because no one will have transitional protection and there will thus be no age discrimination any more.

That’s my reading of it anyway. "

 

[Downsizer]

Yeah so in 2022 you go to '15 if you are still in.

 

[unruly1986]

I’m reading it the same way i.e. come 2022, if you are still in you’ll be forced onto AFPS15.

Interesting that the two options presented for consultation are to either decide immediately on which you want to be a part of up until that point, or decide when you leave.

I am in until 2026 (for the EDP) so will have to update my Excel pension calculator to adjust for both.

 

[StickyFingers]

I’m reading it the same way i.e. come 2022, if you are still in you’ll be forced onto AFPS15.

Interesting that the two options presented for consultation are to either decide immediately on which you want to be a part of up until that point, or decide when you leave.

I am in until 2026 (for the EDP) so will have to update my Excel pension calculator to adjust for both.

Leaking from the other thread, AFPS75 is a final salary pension isn't it? Best get that SJAR gleaming

 

[unruly1986]

Leaking from the other thread, AFPS75 is a final salary pension isn't it? Best get that SJAR gleaming

Ha I’m not that old, 05 to 15 for me

Looking at the figures:

AFPS05 EDP is 50% of preserved pension and the lump sum is 3 times the preserved pension (accrued at 1/70th of final salary during last three years service).

AFPS15 EDP is 34% of preserved pension and the lump sum is 2.25 times the preserved pension (accrued at 1/47th over career average earnings).

For me I’ll be looking at staying on 05 as long as possible; £900 a year better off and a larger lump sum using fag packet calcs.

 

[Cornish_Pikey]

Forced onto AFPS15 for my last year in.

Don't know now which is better, go back to 75 or stay on 15 for that last year. Does that also change the lump sum on exit as that was part of 75?

 

[Vauxhall]

Yep, it would do, but you have to offset it (and any pension arrears) against any AFPS 15 benefits you received.

 

[4everAD]

I'm wondering if we can claim back the cost of taking expert independent advice on what to do? It's their unlawful behaviour and I'm no expert on pensions so in order to make an informed choice I should seek advice but why should I pay for it?