RAF Pension - No Increase this year-Why?

[Littleoldwinedrinkerme]

Can anyone explain to me why I have not received an increase in my pension this year? I am not the only person in my area to experience this.

 

[The Masked Geek]

Because the inflation was at 0% in September when they do the pension calculation.

 

[Billy Whizz]

And no-one complained last year when inflation was at 0% in the April but the index linking was almost 2% cos of the September figure.

It all worked out in the long run so you are not being penalised!

 

[busby1971]

Next year should be a good one though

Next year should be a good one though

Inflation should be pretty high this year in September so next years rise should be a good one. VAT has gone back up, petrol is exhorbatant and Gas and Lecky continue their rise ever upwards

Of course if the economy suddenly recovers and the pound bounces back the above might not be true, but I doubt it by September

 

[Tin basher]

Can anyone explain to me why I have not received an increase in my pension this year?

DT_Xtremez_30:Mine didn't go up because I'm still to young DT_Xtremez_30:

:SDifferent answer in 2 years time though.:S

 

[Obi Wan]

Can anyone explain to me why I have not received an increase in my pension this year? I am not the only person in my area to experience this.

You should have had notification about this within the last 2 weeks explaing all in the "Pensioners newsletter"

DT_Xtremez_14:

 

[Talk Wrench]

And no-one complained last year when inflation was at 0% in the April but the index linking was almost 2% cos of the September figure.

It all worked out in the long run so you are not being penalised!

Absolutely 100% correct.

People forget that if the pension fund suffers from lack of growth, the knock on effect is no increase and in the worst case, a decrease.

I got my letter yesterday explaining why.

At the end of the day, this is down to Brown and his leading us by the nose into recession.

I don't have to rely on my pension and I'm lucky to be able to work.

It's the people who HAVE to rely on their pensions that I feel sorry for.

TW

 

[busby1971]

What?

What?

People forget that if the pension fund suffers from lack of growth, the knock on effect is no increase and in the worst case, a decrease.


TW

We don't have a pension fund, our pensions are underwritten by the Gov.

The pension rises by the RPI, negative RPI (which it was in Sep 09) or deflation, means no rise. On a brighter note there is no cut, it's against pension law, so in theory your pension is worth more today (based on September to September inflation figures) than it was last year, additionally it will rise in line with expectedly high inflation rate in September this year.

Just some sums to show how it is actually a good thing

£100 pound pension worth £100 in Apr 09

No pay rise but delation of 2%

£100 pound pension worth £102 in Apr 10

Sep 10 inflation figure of 4%

£104 pound pension worth £106 in Apr 11

All figures are approx but should give you a good idea.

Inflation is always an annuallised figure so if Sep 09 is lower than Apr 10 then by Sep 10 the inflation figure should have taken this into account.

 

[Talk Wrench]

We don't have a pension fund, our pensions are underwritten by the Gov.

The pension rises by the RPI, negative RPI (which it was in Sep 09) or deflation, means no rise. On a brighter note there is no cut, it's against pension law, so in theory your pension is worth more today (based on September to September inflation figures) than it was last year, additionally it will rise in line with expectedly high inflation rate in September this year.

Yes you are right. I was thinking along other lines.

Thanks for clearing that up and apologies if anyone else was confused by what I posted.

TW

 

[Hu Jardon]

You should have had notification about this within the last 2 weeks explaing all in the "Pensioners newsletter"

DT_Xtremez_14:

I've not had one but you can download this one http://www.xafinity.com/Uploads/Files/spva pensioners newsletter 2010.pdf

where the key statement is:

As the RPI was minus 1.4% as at 30 September 2009 the Government has confirmed there will not be an increase in April 2010. However, there will
be no decrease, to reflect the negative RPI. All AFPS Pensions will therefore remain at their 2009
level.

 

[Ex-Splitter and Proud]

Good stuff, gents!!

As a matter of interest (still 3 years to go to 55!) -- anyone got information to hand regarding the RPI rate changes over the last 8 or 9 years?DT_Xtremez_30:

Idle curiosity and personal greed are my only motives!
DT_Xtremez_42:

 

[Tin basher]

Good stuff, gents!!

As a matter of interest (still 3 years to go to 55!)

Off Topic No way your younger than me!! You must have had a very steep paper round. I've seen dead blokes looking better than you. Me for example.Off Topic

 

[needsabiggerfuse]

Good stuff, gents!!

As a matter of interest (still 3 years to go to 55!) -- anyone got information to hand regarding the RPI rate changes over the last 8 or 9 years?DT_Xtremez_30:

Idle curiosity and personal greed are my only motives!
DT_Xtremez_42:

http://www.statistics.gov.uk/CCI/nugget.asp?ID=21

Add it all up, divide by the number you thought of first, take the logarithm of the left side and find all the prime factors of the right side. You should be fairly close to your answer by then. DT_Xtremez_30:

 

[Ex-Splitter and Proud]

http://www.statistics.gov.uk/CCI/nugget.asp?ID=21

Add it all up, divide by the number you thought of first, take the logarithm of the left side and find all the prime factors of the right side. You should be fairly close to your answer by then. DT_Xtremez_30:

You seem to have missed the "idle" part of my request!DT_Xtremez_42:

(I was waiting for some clever type to come along and provide the answer.... When they're done they might like to wipe my ar$e for me too...)

Thanks though. Sharpening my pencil stub as I write...


Let's see what I'll get when I'm as old as TB!!DT_Xtremez_35:... Hang on a minute, no one's as old as TB....


Well, apart from Captain Slog, that is...DT_Xtremez_34:

Off Topic No way your younger than me!!

Yes... way!

You must have had a very steep paper round.

No... just had to work with some really dumb a$$holes over the years.... That's what did it.

I've seen dead blokes looking better than you. Me for example.

No way, mate! You're the original Belsen baby!DT_Xtremez_30:

I prefer the term "rugged good looks" .... you old f4rt!stfu
DT_Xtremez_30:

 

[busby1971]

Here's some figures

Here's some figures

You can check out the ONS website to find out some pretty good info on this type of thing but here's some figures for you.

For every 100 of pension you had in when you left it'll be worth more now as detailed below, devide by 100 and times by your rate of pension to find out how much you'll be getting, if you commuted then you need to use your pre commutation figure to get a good idea what you'll get. Appologies for pagination.

RPI 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
2000 3.3 £103.30
2001 1.7% £105.06 £101.70
2002 1.7% £106.84 £103.43 £101.70
2003 2.8% £109.83 £106.32 £104.55 £102.80
2004 3.1% £113.24 £109.62 £107.79 £105.99 £103.10
2005 2.7% £116.30 £112.58 £110.70 £108.85 £105.88 £102.70
2006 3.6% £120.48 £116.63 £114.68 £112.77 £109.70 £106.40 £103.60
2007 3.9% £125.18 £121.18 £119.16 £117.16 £113.97 £110.55 £107.64 £103.90
2008 5% £131.44 £127.24 £125.11 £123.02 £119.67 £116.07 £113.02 £109.10 £105.00
2009 -1.4% £131.44 £127.24 £125.11 £123.02 £119.67 £116.07 £113.02 £109.10 £105.00 £100.00

 

[Ex-Splitter and Proud]

You can check out the ONS website to find out some pretty good info on this type of thing but here's some figures for you.

For every 100 of pension you had in when you left it'll be worth more now as detailed below, devide by 100 and times by your rate of pension to find out how much you'll be getting, if you commuted then you need to use your pre commutation figure to get a good idea what you'll get. Appologies for pagination.

RPI 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
2000 3.3 £103.30
2001 1.7% £105.06 £101.70
2002 1.7% £106.84 £103.43 £101.70
2003 2.8% £109.83 £106.32 £104.55 £102.80
2004 3.1% £113.24 £109.62 £107.79 £105.99 £103.10
2005 2.7% £116.30 £112.58 £110.70 £108.85 £105.88 £102.70
2006 3.6% £120.48 £116.63 £114.68 £112.77 £109.70 £106.40 £103.60
2007 3.9% £125.18 £121.18 £119.16 £117.16 £113.97 £110.55 £107.64 £103.90
2008 5% £131.44 £127.24 £125.11 £123.02 £119.67 £116.07 £113.02 £109.10 £105.00
2009 -1.4% £131.44 £127.24 £125.11 £123.02 £119.67 £116.07 £113.02 £109.10 £105.00 £100.00

Busby - you Sir, are a true gentleman.... a diamond!

Many thanks - you recognised my idleness, took pity and provided more than enough!
DT_Xtremez_30:
Now.... how about doing my garden for me?
DT_Xtremez_42:

After that.... well, we'll get to that...DT_Xtremez_06:

 

[4mastacker]

My pension hasn't changed but Mrs 4ma received her magic letter from Xafinity today and her pension has actually gone down - ok, it's only £2 a month but it has still decreased!! So, are there any pensions experts out there who might be able to give some clue as to why this should be - the leaflet that came with the notice was a clear as mud! . She's not a happy bunny.

 

[I Look Like Kevin Costner]

My pension hasn't changed but Mrs 4ma received her magic letter from Xafinity today and her pension has actually gone down - ok, it's only £2 a month but it has still decreased!! So, are there any pensions experts out there who might be able to give some clue as to why this should be - the leaflet that came with the notice was a clear as mud! . She's not a happy bunny.

Mine went down by 85 quid.. Changes to tax code due to other employment!

 

[Hu Jardon]

Mine went down by 85 quid.. Changes to tax code due to other employment!

Mine went down about £120 for the same reason - robbin tw@ts in the tax office makes you wanna go on the doleDT_Xtremez_42:

 

[Goatherdingsplitter]

Submitted my JPA PEN1 application today - 18 weeks left in my free clothingDT_Xtremez_30: