royal navy pension

Discussion in 'Finance & Pensions' started by newirelandnavy, Sep 30, 2011.

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  1. i am on a steady course to my 60th birthday, i did nine years in the royal navy, could any one tell me at what age do i get a pension from the mod, or if i am entitled to one. i served 1970-1979
     
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  2. thank you for your reply, i sent a letter to pensions[glasgow] spva, AND GOT A REPLY TODAY AND WAS INFORMED OF MY ENTITLEMENTS WHEN I REACH THE AGE OF 60, GOOD RESULT.NEWIRELANDIRELAND
     
  3. Hi Newwirelandnavy , I read your good news about the result of your enquiry . I'd be very interested in what they told you . I served 1965-1976 which includes junior service joining at Ganges . I'm now 62 and living in Australia at the moment . I think my reckonable time will be 9 years . Thanks for any help .
    Cheers , Mac Dray. ex.POAM L/089269/U
     
  4. pension entitlements

    Hi , Any chance you can pass on the information on pensions . Ref. 3 x years junior service and then 9 x years man service . I'm in Australia and can't contact H.M.S. Centurion . 1965-1977. ex-A/POAM.
    Cheers , Mac Dray .
    www.yarraglenbnb.com.au
     
  5. In 1976 you would have to have had 5 years service from age 18 AND be over age 26 when you left to have qualified for a preserved pension. Looking at the dates you gave, I fear that you don't qualify. Sorry to be the bearer of bad news.
     
  6. Hi Navy Net, I have found a letter ( undated ) from HMS Centurion , titled :" Preservation of Pension Rights". Saying I have a preserved pension of $431.58 Sterling , and a terminal grant of $1312.74 normally payable at 60 yrs. The scale of preserved benefits over age of 18yrs. is 2.75% of full career pension . Terminal grant 3 x the annual pension . I'm not sure what this means for me . I know Centurion has closed ......not sure what to do next . I live in the Australian Outback . Any advice would be greatly appreciated. I'm 63yrs this 20th. November 2012. Cheers, Mac Dray ex.POAM . Official No: D089269U
    089269U
     
  7. [h=2]One of SJRM_RN's links above contains[/h]
    E-mail: <
    mailto:[email protected]> [email protected]

    Have a read of his links and contact JPAC
     
  8. Last edited: Nov 8, 2012
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  9. To my understanding if you served after 6th April 1975 you are entitled because the pension changed hands.before that you had to serve your full time,hope this helps.here is the address. hope this is of some assistance.
    SPVA

    Pensions Division

    Mailpoint 480
    Kentigern House
    65 Brown Street
    Glasgow
    G2 8EX
     
  10. no need to write to anyone!!! If you read the link above it is self explanatory!!!:study:
     
  11. Preserved Pension

    Hi Mac, Like you I served almost the same amount of time (1969 to 1980) and left as an LREM (A). Official No. D-114842-L. I made some enquiries last year before I came to Australia and was told verbally that I would be entitled to a lump sum of £6,800, with a monthly pension of £180. Yesterday (19/12/12) I downloaded a pdf file from a UK government web site that appears to be a simple form for ex ratings like us to fill in and post to the Glasgow address mentioned elsewhere in this forum.

    Pensions Division
    Mailpoint 480
    Kentigern House
    65 Brown Street
    Glasgow
    G2 8EX

    The web site address is: https://www.gov.uk/pensions-and-com...-personnel-and-veterans-agency-pensions-forms

    Hope this helps.

    All the best,
    yamahaggis
     
  12. Hi Guys,
    A very long time since I posted, but, having just received my latest increase in Pension from xAfinity Paymaster, I just had to share my joy with all of you !!

    Increase per month = £0. 56p :toothy10:

    Tax increase per month = £0. 40p ......... :-?

    Grand total left available to spend/save = £0.16p :(

    Anybody out there who is willing to advise me if I should open a Swiss bank Account ??
     
  13. Does one get notified of amount due and starting date?
    I applied some months ago (60th this week) and received "confirmation of receipt" slip, but nothing since.....
    Should I be chasing it up? (Dont wish to hassle them unnecessarily)
     
  14. They will write to you to tell you the amount and the date in the month the pension will be paid. The lump sum is paid by SPVA and the monthly pension by Equiniti Paymaster (EP). EP will only contact you when the amount you have been told you will get changes (e.g. tax code changes etc).

    The lump sum should be paid within 30 days of your 60th birthday but evidence of others' experiences suggests that they tend to pay within 10 working days. The pension is paid monthly in arrears - it may not be exactly one month after your birthday but, once they have chosen the date, they stick to it.
     
  15. Pensions are normally paid in advance. They can be in arrears, but this is unusual for an occupational pension scheme. ....:sad1:
     
  16. I stand by what I said as it relates only to the Armed Forces pension schemes. This information is contained in the Financial Aspects of Retirement briefing we deliver on behalf of the MOD - a briefing cleared by them. Looking at the rules, there is no provision in them for pensions to be paid in advance.
     
  17. The reason that Occ pensions are always payed in advance, is technically when you retire, you would be without pay for a month:neutral: the trustees should think about changing the rules on the APFS then
     
    Last edited: May 7, 2013
  18. Just RXed my annual P60 from Pussers pension and its go up by over £100 quid, looked it and the only bit that has changed is I am paying the tax man less, and it goes up to full wack in a few months bonus.

    Should I ask why or assume they know what they are doing??????

    Possibly because in changing jobs I dropped out of the higher tax bracket for the first time since being a sea going chief submariner.:laughing3:
     
  19. You lucky, lucky B@steward! :grin:
     
  20. Its your money, givem hell!
     

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