Thedelldays Posted 7 March, 2012 Share Posted 7 March, 2012 are about to change drastically...and it will effect some of you that have long left and thought you were getting X amount. I for one am not complaining...all pensions are changing etc what is funny...that the pensions for the Admirals/Generals is NOT changing...and they will remain on FULL pay for life.... Link to comment Share on other sites More sharing options...
moonraker Posted 7 March, 2012 Share Posted 7 March, 2012 Senior officers do not remain on full pay, as usual you don't know your facts. Link to comment Share on other sites More sharing options...
Thedelldays Posted 8 March, 2012 Author Share Posted 8 March, 2012 (edited) Senior officers do not remain on full pay, as usual you don't know your facts. sorry about that, you are right an admirals basic pay is around £180k upon leaving their pension will be shy of £100k and their lump sum is around £270k+ (which they can commute to their pension) so no, not full pay at all. and these are not being changed in the new forces pension shake up Edited 8 March, 2012 by Thedelldays Link to comment Share on other sites More sharing options...
Justin C Posted 8 March, 2012 Share Posted 8 March, 2012 I think the accured rights is probably the best the Armed Forces could have hoped for really. Thought they might have taken more of the IP. New people joining will not get such a good deal. Link to comment Share on other sites More sharing options...
Petersfield Saint Posted 8 March, 2012 Share Posted 8 March, 2012 Delldays, I agree with the principle you're trying to get across i.e. the people right at the top never seem to get adversely affected by these changes. I 4-1 would also like to know when the MPs pension scheme is going to be reformed to provide better value to the taxpayer... Sent from my GT-I9100 using Tapatalk Link to comment Share on other sites More sharing options...
ecuk268 Posted 8 March, 2012 Share Posted 8 March, 2012 Be thankful for what you've got. Millions in the private sector don't get a pension at all if they don't make their own arrangements. It's only recently that it's become compulsory for companies to enroll their employees in a pension scheme. Link to comment Share on other sites More sharing options...
Saint Lindford Posted 8 March, 2012 Share Posted 8 March, 2012 are about to change drastically...and it will effect some of you that have long left and thought you were getting X amount. I for one am not complaining...all pensions are changing etc what is funny...that the pensions for the Admirals/Generals is NOT changing...and they will remain on FULL pay for life.... Where have you got that info from? Would be very interested as it will affect me, left the RN 12 years ago after doing 22 years. Link to comment Share on other sites More sharing options...
Justin C Posted 8 March, 2012 Share Posted 8 March, 2012 Saint L it won't effect you as it is from 2015 and people still serving. Link to comment Share on other sites More sharing options...
View From The Top Posted 8 March, 2012 Share Posted 8 March, 2012 Where have you got that info from? Would be very interested as it will affect me, left the RN 12 years ago after doing 22 years. Won't impact any of us old salts. Link to comment Share on other sites More sharing options...
Minsk Posted 8 March, 2012 Share Posted 8 March, 2012 Where have you got that info from? Would be very interested as it will affect me, left the RN 12 years ago after doing 22 years. That means you would have joined up in '78? I joined in '79, retiring 8 years ago after serving 25. (I was a TAS Ape) Link to comment Share on other sites More sharing options...
iansums Posted 8 March, 2012 Share Posted 8 March, 2012 Fair play to you Delldays for accetpting the reality of the situation. I read the other day that Doctors as well as receiving an excellent pension get a lump sum of something like £50K! Why? Link to comment Share on other sites More sharing options...
Thedelldays Posted 8 March, 2012 Author Share Posted 8 March, 2012 Won't impact any of us old salts. I think you are right... however, rumours are rife that it will effect everyone bar those within 10 years of national retirement age.. imagine that if true Link to comment Share on other sites More sharing options...
Thedelldays Posted 8 March, 2012 Author Share Posted 8 March, 2012 Saint L it won't effect you as it is from 2015 and people still serving. this is most likely the case...which is good as I am just starting the process of leaving having done 12 years...it is now a terrible job IMO Link to comment Share on other sites More sharing options...
View From The Top Posted 8 March, 2012 Share Posted 8 March, 2012 I think you are right... however, rumours are rife that it will effect everyone bar those within 10 years of national retirement age.. imagine that if true They'll be burning barricades on Whitehall! Link to comment Share on other sites More sharing options...
Thedelldays Posted 8 March, 2012 Author Share Posted 8 March, 2012 They'll be burning barricades on Whitehall! we won't know for sure yet though...but everyone has been talking about it.....that your time done is safe...but when and what you get before your "national" pensionable age, if you get me and what you get at that age.....will it be reviewed..? will your time done be equated to a different set of pay scales...? Link to comment Share on other sites More sharing options...
moonraker Posted 8 March, 2012 Share Posted 8 March, 2012 This is intersteing as changing pensions already in payment will be open to serious legal challenges, defered pensions (for ratings who did not complete 22 years from age 18 or 16 years from age 21 for an officer) may be a different matter, I belive these normally commencae at age 60. Just let me get to my 55th in August to get all my commutation and index linking restored before they do it. I am afraid DD your figures for senior officers are a bit out, I used the Pensiosn Calculator (any one can use thsi and be any one they like) available on the MOD website for a Vice Admiral leaving on VERS and got the following results, Start of Reckonable Service 02/04/1977 End of Reckonable Service 06/07/2012 Leaving NATO Rank OF 8 Reckonable service length 34 years Retirement age 56 Final Pensionable salary £138569 Pension Scheme AFPS 75 Pension £69285 Terminal Grant £207854 So half pay which is which definately better than other ranks with similar pensionable service, I have to say the terminal grant is very nice to! Link to comment Share on other sites More sharing options...
Justin C Posted 8 March, 2012 Share Posted 8 March, 2012 Delldays It came out last week that you will still get your immediate pension at the same time but only for service up to 2015. Any service after this will be on the new scheme. For example if your ip point is 2017 you will get 20/22 of your ip in 2017 as you would have completed 20 years before the new scheme comes in. The remaining 2 years will be on the new scheme. The only people who are unaffected are those aged 45 on 1 Apr 2012. It all came out in a DIN. IMO its the best the services could have hoped for. My last post of day but will answer any questions tomorrow. Link to comment Share on other sites More sharing options...
Thedelldays Posted 8 March, 2012 Author Share Posted 8 March, 2012 Delldays It came out last week that you will still get your immediate pension at the same time but only for service up to 2015. Any service after this will be on the new scheme. For example if your ip point is 2017 you will get 20/22 of your ip in 2017 as you would have completed 20 years before the new scheme comes in. The remaining 2 years will be on the new scheme. The only people who are unaffected are those aged 45 on 1 Apr 2012. It all came out in a DIN. IMO its the best the services could have hoped for. My last post of day but will answer any questions tomorrow. yeah heard that...have not seen the DIN myself but others have...and the usual rumour mill etc Link to comment Share on other sites More sharing options...
Thedelldays Posted 8 March, 2012 Author Share Posted 8 March, 2012 This is intersteing as changing pensions already in payment will be open to serious legal challenges, defered pensions (for ratings who did not complete 22 years from age 18 or 16 years from age 21 for an officer) may be a different matter, I belive these normally commencae at age 60. Just let me get to my 55th in August to get all my commutation and index linking restored before they do it. I am afraid DD your figures for senior officers are a bit out, I used the Pensiosn Calculator (any one can use thsi and be any one they like) available on the MOD website for a Vice Admiral leaving on VERS and got the following results, Start of Reckonable Service 02/04/1977 End of Reckonable Service 06/07/2012 Leaving NATO Rank OF 8 Reckonable service length 34 years Retirement age 56 Final Pensionable salary £138569 Pension Scheme AFPS 75 Pension £69285 Terminal Grant £207854 So half pay which is which definately better than other ranks with similar pensionable service, I have to say the terminal grant is very nice to! the figures I got were for full admiral lol Link to comment Share on other sites More sharing options...
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