Navy Net - Royal Navy Community

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

Is this right

Tell me if I'm correct or not please shipmates
The following is what I believed to be true when I left
I joined June 1992 and left April 2013 I swapped over to the AFPS 05 Scheme to take advantage of the 18/40 EDO
I had a lump some plus immediate pension I should get an increase at 55 and another when I'm 65 plus a further lump sum yes?


Lantern Swinger
From this Government document: https://assets.publishing.service.g...FT_-_AFPS_05_Your_Scheme_Explained.pdf#page10

Deferred Pension
When can I receive my benefits?
Your age and the amount of paid Service you complete determines the point at which you are entitled to benefits:
If you leave the Service at age 55 (normal pension age) or over, you will be entitled to an immediate pension.
If you leave the Service before age 55, you will become a deferred member and will be entitled to a deferred pension paid at age 65 (pension benefit age). You might also be eligible for either:
• Early Departure Payment (EDP) (see section 4),
• Ill-health pension (see section 5), or
• Resettlement Grant (see section 6).


How do I know if I’m eligible?
To be eligible for an EDP, you will have to reach age 40 or over (but before the age of 55) and serve as a Regular for at least 18 years. This is known as the 18/40 EDP point, since both the 18 and 40 year marks have to be passed.
What will I receive and when?
If you leave the Regular Armed Forces on or after the 18/40 EDP point but before age 55 (normal pension age), you will receive a tax-free lump sum, equal to 3 times your annual deferred pension.
You will also receive a taxable monthly income, which is worth no less than 50% of the value of your annual deferred pension. For each year served beyond the 18/40 EDP point, the value of the EDP will be increased by 1.6667% of your deferred pension. Refer to the table below for illustrative examples.
From age 55, the EDP income increases to 75% of the value of your deferred pension.
Since an EDP is not a pension, once you reach age 65 (pension benefit age), the EDP income stops. At this point, your deferred pension becomes payable. It is important to remember that you must claim this pension from DBS Veterans UK (see section 3).

So it looks to me like you are on EDP of 50% of your ultimate preserved pension until you hit 55. At 55 it increases to 75% until age 65 (changed to SPA?) when you will begin to receive your actual pension.

The bold bit is really important. You have to ask for your pension at 65 (or SPA)


Lantern Swinger
Tell me if I'm correct or not please shipmates
The following is what I believed to be true when I left
I joined June 1992 and left April 2013 I swapped over to the AFPS 05 Scheme to take advantage of the 18/40 EDO
I had a lump some plus immediate pension I should get an increase at 55 and another when I'm 65 plus a further lump sum yes?
Your EDP was not your pension. Your EDP income is paid at a flat rate until age 55 when it is increased to 75% of your preserved AFPS 05 pension and it picks up all the CPI increases that have occurred since you left. From age 55 the income is increased each April by CPI and continues until age 65.

AFPS 05 pensions are normally payable from age 65 but can be claimed at any point from age 55 at a reduced rate. If you were to claim before age 65, the EDP income would not be affected.
Thanks for the reply I've seen that but my concern is that te wording has changed it says lump sum not limp sums ie a further lump sum at 65 if there wasn't I wouldn't have signed up to it


Lantern Swinger
If you are have benefits in AFPS 05 and leave with an AFPS 05 EDP and a preserved AFPS 05 pension, the system works as is set out in my email above.

You need to separate the EDP from the pension in your mind. You get your EDP which is paid until age 65. Quite separately, sitting there waiting, is your preserved pension (which includes a lump sum of three times the annual income) which can be claim at any age from 55. Nobody is altering that.

We await the outcome of the consultation document on how to put right what went wrong with the transfer of public sector workers to the 2015 pension arrangements but that is not going to affect what you have already built up under AFPS 05 rules.
Thread starter Similar threads Forum Replies Date
C Not sure if made right choice Joining the Royal Navy 15
S Have I made the right choice? - Warfare specialist Submariners 2
MoD_RSS New Ofsted report highlights need to get matching right MoD News 0
MoD_RSS Dealing with the UK’s higher-activity radioactive waste is the right thing to do MoD News 0
MoD_RSS SLC urges students entering Clearing to apply for finance right away MoD News 0
MoD_RSS In praise of red tape: getting regulation right MoD News 0
4 Any tips for getting in the right frame of mind as a submariner? Joining the Royal Navy 19
MoD_RSS Far-right terror group proscribed MoD News 0
MoD_RSS Polluter to put river right after serious spill MoD News 0
MoD_RSS Supporting every child's right to quality education MoD News 0
MoD_RSS Priti Patel proscribes right-wing terrorist group MoD News 0
MoD_RSS ARTEMIS - jHubMed delivering innovation right where it is needed MoD News 0
MoD_RSS Temporary changes to right to rent and right to work checks MoD News 0
MoD_RSS UN Human Rights Council 43: UK statement for the Interactive Dialogue with the Special Rapporteur on the Right to Privacy MoD News 0
MoD_RSS Order to proscribe far-right terrorist group comes into force MoD News 0
MoD_RSS Government takes action to proscribe right-wing terrorist groups MoD News 0
MoD_RSS Inspection Report Published: A reinspection into failed right of abode applications and referral for consideration for enforcement action MoD News 0
MoD_RSS My Right to Healthcare MoD News 0
MoD_RSS Levelling up research and innovation right across the United Kingdom MoD News 0
MoD_RSS UK set to introduce ‘Jack’s Law’ – new legal right to paid parental bereavement leave MoD News 0
C RFA and Forces Right To Buy RFA 7
MoD_RSS Economic and Finance Committee: When we get it right, we affect the lives of millions of ordinary citizens for the better MoD News 0
Blackrat Right then.... Diamond Lil's 33
MoD_RSS On the right track: Homes England signs Hecurl to develop 150 ’Build to Rent’ homes at Corby Station MoD News 0
MoD_RSS Highways England on right lines to make ‘ghost’ markings vanish MoD News 0
MoD_RSS UN Human Rights Council 41: explaination of vote on the right to peace MoD News 0
MoD_RSS Right to transfer determinations: West Kensington and Gibbs Green Estates MoD News 0
MoD_RSS Right to transfer determination: Cressingham Gardens Estate MoD News 0
MoD_RSS Ambassador to Turkmenistan supports the right to write MoD News 0
vauxhall MOS - Ensuring the right payments are made to the right people Finance & Pensions 0
MoD_RSS Speech: Lead Commissioner's speech to the Centre for Analysis of the Radical Right Conference MoD News 0
MoD_RSS News story: Skipper rescued off Salcombe 'had done all the right things' MoD News 0
MoD_RSS News story: New labelling requirements to help motorists pick the right fuel at home and abroad MoD News 0
MoD_RSS Speech: Getting the right leadership is vital for patient safety MoD News 0
MoD_RSS Press release: Largest upgrade in a generation to workplace rights - getting work right for British workers and businesses MoD News 0
MoD_RSS News story: Online right to work checks MoD News 0
MoD_RSS News story: ‘Spirit of Yorkshire runs right through our nation’s defence’: Defence Minister hails Yorkshire firms on Huddersfield visit MoD News 0
vauxhall It can't possibly be right, can it? Finance & Pensions 0
MoD_RSS Speech: Encryption and counter-terrorism: getting the balance right MoD News 0
TechFin Anyone know the needs of the service for Aircrewman right now? Joining Up - Royal Navy Recruiting 9
Stirlin Shaker Aamer , Extremists have no right to live in this country. Current Affairs 51
D Some pointing in the right direction needed.. Joining Up - Royal Navy Recruiting 22
Stirlin He was right. Sports and Adventure Training 0
Stirlin The right to be offensive ? / Fat gate. Current Affairs 149
SquidlyDiddly Have I made the right choice? RFA 14
stan_the_man They really know how to get things right in Cornwall fcuking Pointy Heads Diamond Lil's 19
Waspie Israel enters, stage right! Current Affairs 2
T US Right Wing think tank on NATO Maritime Power Current Affairs 2
soleil Sunday Times: "Should It Be Union Flag Or Is Jack All Right?" The Fleet 22
finknottle Hitting the right note The Gash Barge 0
Similar threads