Pension transfer

Discussion in 'Finance & Pensions' started by justadrama, Dec 12, 2014.

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  1. I served in the army 99 - 07 and currently going through the application process to join RN, just prnc to do.

    does anyone have info on how my pension will be affected?

    will it be transferred to RN pension, meaning i would need to serve 10 years rather than 18 to get a full pension?
    or will it be kept seperate?

    any info muchly appreciated.
  2. Have you been offered a full career in the RN? Or only 10 years 'top-up'?

    Either way, your previous pension under AFPS75 (I'm assuming, unless you transferred it to AFPS05) will be frozen from April 2015, and you'll be on AFPS15.
  3. Afco couldn't tell me anything about it, there presuming it'll be 18yrs.

    I honestly don't remember what box i ticked or dotted line i signed on in regards to 75 or 05.

    If I didnt transfer itll be 18 yrs career as I wont be full time till after April but if I did may be 10 yrs top up??

    I plan on doing a full 18 and making a proper career of it (rather than just drink through it all like the army) but it would be nice to know either way.

  4. If you join before 1 April 2015 you will be eligible for AFPs 05 membership and, if you wish, could aggregate your old service with your new (which means it will count at your new rate of pay rather than your old rank or rate of pay). If you are an FPS member we can do the sums for you.

    on 1 April 2015, you will be transferred to AFPS 15: if you join on or after that date, you will be an AFPS 15 member and your old pension benefits will remain preserved until you are 60/65.
  5. I definitely won't be starting before April.
    Just to get this straight, if I stayed on afps 75 I'll receive a pension after a full 18 from RN then another when 65 from the army??

    If I moved to afps 05 I can aggregate it to afps 15 and do 10 yrs for a full pension??
  6. I have double checked the position with MOD. If you are not back in service before 1 April 15 your earlier service will be treated as completely separate from your new service. You have a preserved AFPS 75 award in relation to your old service and that will be paid out at age 60 for the service completed up to 6 April 06 and 65 for service after that date. The reason that it will not count as continuous service when you rejoin is that the break has been over 5 years (that is the rule for AFPS 15).

    This all means that you will have to serve until age 60 to get an AFPS 15 pension paid immediately on discharge. If you do not serve until age 60, you will get a deferred pension payable at your state pension age.

    Sorry for the delay but I wanted to be sure of what I was telling you
  7. So after serving in the RN for however long I will receive 4 separate pensions, including state, when I turn 65?

    What are the main differences with afps15 compared to 75 and 05 then, apart from not receiving a pension on discharge before 60?

    Thanks for your time vauxhall, really appreciate it.
  8. You will get your AFPS 75 pension, whatever pension you have been earning since 07 when you left the RN, an AFPS 15 pension at age 60 if your are still in service or your state pension age if you leave before age 60 and your state pension at whatever age that is for you.

    I have just written an article for Pathfinder Magazine on AFPS 15 and, if you PM me with your email address, I will send you the link.

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