Buying of AFPS 75 Pension

Hi everyone,

Heard this rumour doing the rounds down here at Culdrose and just wondered if anyone else has heard it or can shed any more light on the subject.

The rumour goes that the MoD will 'buy back' the AFPS 75 pensions effectively giving you a lump sum and terminating your service. This is supposed to be come into force before the introduction of the new pension scheme in 2015.

Sounds too good to be true to me and although it will save money in the long term no government looks beyond its 5 year term of office.

Anyone know any different?

 

I have to admit to knowing no different but I cannot believe they would do this, the costs would be eye watering and would have to be found in year and from the MoD costs not treasury so we'd been in for some real financial pain. Plus, the numbers of people you are talking about and their relative ages/seniority means you'd be losing the very people you need to keep after all the redundancy has taken away similar people.

I think its a bad buzz.

 

Shit buzz! .

 

I have discussed this with chums at FPS HQ and the response was, as they say on the football terraces, 'what a load of rubbish'.

 

:wink:

 

Thought it was way too good to be true.

 

Well as they say, if it sounds too good to be true then it generally is!!

I hear some really shit buzzes in my job, this one is top of the gash pile.