Public Sector Pension Ruling and the Armed Forces

[Dan_Brown]

Because EVERYBODY is affected together, there is no longer any discrimination.

I understand that this is the crux of the discrimination. But rumblings on the shop floor that the magic date of Apr 22 is not correct and some will still be affected.

I have no figures/dates to evidence this, just duty rumour. I was asking if anybody had heard this too.

 

[Billy Whizz]

Unlike when we went to 15, which was age discriminated, ie those within 10 years of normal pension age could stay on 75, EVERYONE will go to 15 in 22 so no age discrimination involved.

 

[unruly1986]

Here’s a question: what happens to any AVC (added bought pension) that was purchased during the period 2015-current, if I plan to go back to AFPS05?

 

[Rugby-Jock-Lad]

Armed Forces Pension Society or a proper financial advisor would be the way to go methinks!!!

 

[Talk Wrench]

Armed Forces Pension Society or a proper financial advisor would be the way to g o methinks!!!

Pension Society every time.

 

[Vauxhall]

Here’s a question: what happens to any AVC (added bought pension) that was purchased during the period 2015-current, if I plan to go back to AFPS05?

The consultation document confirmed that any added value would be reflected if the individual moved scheme.

 

[unruly1986]

The consultation document confirmed that any added value would be reflected if the individual moved scheme.

Thanks - does that mean if I ‘moved scheme’ to AFPS15 in 2015, I’ll get the AVC?

What if I decide to go to AFPS05 for the period 15-22?

 

[Vauxhall]

The consultation document said that you would not be seen off if you had purchased something in one scheme that was not in another so Added Pension in AFPS 15 is not a feature of AFPS 05 or AFPS 75, and Added Years is not a feature of AFPS 15 but is in the other two. You will need to wait for the MOD detailed plans (that is what we are waiting for) and base your decision on that.

 

[Tin basher]

I have just received my Feb 2021 edition of the AFPS quarterly digest which includes an article on the McCloud update. Sadly due to my meagre IT skills I have been unable to find an electronic copy of the digest and the article.

But I have found this

McCloud Remedy Announced! - Forces Pension Society

Following a consultation period in which two remedial options were considered a decision has been made...

forcespensionsociety.org

and this

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/958190/Final_Leaflet.pdf

I don't know if this shines any light on the issue I could well be on the wrong track .

 

[Vauxhall]

I have had veterans aged 80+ asking me for help with their decision as a result of the McCloud remedy! There is a little confusion out there about who is in the scope and who is not. The link will take you to the FPS update which makes it very clear who is and is not in the 'remedy period':

https://forcespensionsociety.org/2021/02/mccloud-remedy-announced/

 

[Captain Kirk]

Vauxhall, is there a date in mind for the online calculator that you know? Seems odd they weren’t ready for what was a 2 horse race!

 

[Vauxhall]

I will see what I can find out on Monday.

 

[hobbes]

I will see what I can find out on Monday.

I am smack in the middle of the bracket, I left 2 years ago.

Legally, shouldn't they send a statement stating what the difference is between the 75 entitlement & the 75/15 split?

 

[Vauxhall]

If you are in the group specified in the announcement they will contact you at some point with options and figures to help you decide.

 

[Vauxhall]

I will see what I can find out on Monday.

We have no news about the release of the calculator - keep an eye on our website as we will announce it there. www.forcespensionsociety.org

 

[StickyFingers]

The annual Pension forecast you can request. (Form 12 off the top of my head)

If I put it in today would it be done with the new info with regards to going back to AFSP75 or still the old 75/15 mix?

 

[Captain Kirk]

The annual Pension forecast you can request. (Form 12 off the top of my head)

If I put it in today would it be done with the new info with regards to going back to AFSP75 or still the old 75/15 mix?

75/15. Frustrating, but it’ll come good!

 

[Vauxhall]

Here’s a question: what happens to any AVC (added bought pension) that was purchased during the period 2015-current, if I plan to go back to AFPS05?

The consultation document said that the value would be credited if you transferred back to your 'old' scheme. When the time comes to decide, you will be given figures to help you.

 

[Tin basher]

Just received my May 2021 AFPS quarterly digest amongst other things it includes this link

McCloud Remedy update

Important information for Veterans UK Customers affected by the McCloud Remedy

www.gov.uk

Pension increase details 0.5% plus
What your relatives need to do when you pop your clogs
and this info on all the schemes https://www.gov.uk/guidance/pensions-and-compensation-for-veterans

 

[Late & Tired]

Just had a note to check the UK CPI Rate for April 2021 via the ONS.
Currently just a big leap up to 1.5%.
Hope it's going in the right direction for September's figure...