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Operation see off.

dsgrnmcm

Lantern Swinger
Ship mates,

Just been having a bash at the online pension calculator and as an SUY my recanable service starts from the age of 21 as opposed to 18, which means I dip out on 3 years worth of pension build up.

Is this right?



I have joined the FPS and will ask when my details arrive.


Sent from my iPad using Tapatalk
 

Irezumi

Badgeman
Indeed it is true, myself and a few others were titspinningly overjoyed when we discovered this little gem. I'd be keen to hear what the FPS have to say if you don't mind sharing.

No doubt a "suck it up, buttercup" but I shall wait, out.
 

dsgrnmcm

Lantern Swinger
Well I hope not, because if we have to conform to the occifers 21 plus for pension start then we should be able to thin out after only 16 years of service and pension starts week one day one?

Thoughts?


Sent from my iPad using Tapatalk
 

Jim the BinBag

Midshipman
There was something about this in LinkedIn last week if you're into that. Basically, dry yer eyes cupcake and note that the accrual rate for officer is higher than a rating - whatever that means
 
Rating in AFPS75 - 37 years service for full pension.
Officer in AFPS75 - 34 years service for full pension.
Officer in AFPS75 - 16 years from age 21 and 5 years commissioned service for immediate pension

What's your problem exactly?
 

Irezumi

Badgeman
Rating in AFPS75 - 37 years service for full pension.
Officer in AFPS75 - 34 years service for full pension.
Officer in AFPS75 - 16 years from age 21 and 5 years commissioned service for immediate pension

What's your problem exactly?
Probably the fact that after going SUY there has been a "slight tweak" to his pension that wasn't mentioned. Seems fair enough to a bit tickled by the fact I would suggest.
 

vauxhall

Lantern Swinger
As pointed out above, an officer is entitled to a full career pension 3 years before an other rank. Most people do not serve for a 'full career' but an officer's pension builds up slightly quicker than an other rank's - officers' preserved pensions are calculated at 3% of the full career rate for every year and part of year served (after age 21) and the other rank the rate is 2.75%.
 

TheCommunicator

Lantern Swinger
Pretty sure there's a caveat in the regs that says you can't have an immediate pension any earlier than you would have got it as a rating.

I don't think you necessarily transfer to an officer's pension if you leave in the first 5 years. They're supposed to calculate a WO pension from 18 and a officer one from 21and give you whichever is the highest. One you've been commissioned over 5 years it's an officer's one.
 

vauxhall

Lantern Swinger
If you leave having given less than 5 yrs commissioned service, you revert to a WO1's pension rate (with service counted from age 18) and that will be revisited at age 65. If the officer's rate from age 21 is better than the WO1's rate from age 18, the higher rate comes into payment.

If you are commissioned after 21 and serve more than 5 yrs, the pension rate is whatever the pension code says it is.

N'aint easy. If you are in this position and need a steer, join FPS and we will give you personal info.
 
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