Best time to submit notice and is AFPS calculator accurate

#1
Hi

I am going to submit notice to leave after 28 years service. I intend to submit notice on the 1st april that means i will leave the navy on 1st April 2010. The reason behind this is that I will move onto a new incremental payband and therefore have a larger lump sum and annual pension. Are there any other dates that I should consider submiiting notice to maximise my lump sum and annual pension e.g the start of the new tax year. I am on AFPS 05

Also is the AFPS calculator accurate ?
 

J.J.

Midshipman
#2
If you submit your notice on 1st April your TX date will be 31st March the following year so you will need to delay it by one day to get the latest pension increase, which is effective from 1st April. I speak from experience! Can't help you with the AFPS calculator I'm afraid.
 
#3
Re: Best time to submit notice and is AFPS calculator accura

Not a good time to leave mate, jobs scarce, money shite, my advice stay as long as you can - civvies are tw*ts
 
#4
Re: Best time to submit notice and is AFPS calculator accura

stan_the_man said:
Not a good time to leave mate, jobs scarce, money shite, my advice stay as long as you can - civvies are tw*ts
Oi! I'm going to be one of them in a few days. :evil:

But then again, I'm a [email protected] anyway, so being a strawberry won't make much difference. :D

As Stan says, it's tough in civvy street at the moment, and the concensus given to me by a couple of CTP personnel I know recommend staying in the mob if possible.
 

AndyGrayland

Lantern Swinger
#5
Re: Best time to submit notice and is AFPS calculator accura

After 28 years service, surely he'll be able to go straight into his pension if he can't find another job? (I'm a bit too young to actually know the full details of all of this mind you).
 

wave_dodger

MIA
Book Reviewer
#6
Re: Best time to submit notice and is AFPS calculator accura

There are jobs to be had, just has to be in the right sector. Jimmy should be ok (he worked for me so I know his trade/skills).

If you're in CIS, IT, Comms, even engineering there are jobs but your salary expectation needs to be adjusted.
 
#7
Pussers pension is not enough to live on believe me, civvies still tw*ts. Get yourself a good job and the taxman takes 40%. But now I'm my own boss its great turning up when I want and on my terms. As a different thread the recent snags with Total UK and other sites is only going to be the tip of the iceberg, more jobs losses will only increase the ill feeling towards foreign labour taking UK jobs. Methinks civil unrest is not too far away.
 
#8
Re: Best time to submit notice and is AFPS calculator accura

I would suggest that any time in 2009 is not a good time to submit notice, no matter how accurate (or not) the pension calculator may be.
 
#9
Thanks guys

For the info best bit was to submit notice a day later than I had anticipated. So as to make sure my TX date is the 1st April. I am well aware of the current economic climate and the difficulties it presents. But for me enough is enough. I need to leave sometime and to be honest without ranting on I have had a gutful. The money I am on is good and I know I will have to be realsitic about my salary expectations but i do not see the point in staying somewere were I am not happy
 
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