Pension

#1
Hey I no after 18years of service you get a pension. Do you get this as soon as you leave after you have served 18years. Or do you get it when your 60 or somthing? Thanks
 
#2
matta12 said:
Hey I no after 18years of service you get a pension. Do you get this as soon as you leave after you have served 18years. Or do you get it when your 60 or somthing? Thanks
I think you had to do 22yrs to get it immediately on leaving the RN and you could commute a lump sum, with a reduction in the pension amount paid. I should imagine that the authority for current regulations on pensions is either HMS Centurian your pay office/UPO. Perhaps Soliel could provide you with a link.
 

malspal

Lantern Swinger
#4
matta12 said:
Hey I no after 18years of service you get a pension. Do you get this as soon as you leave after you have served 18years. Or do you get it when your 60 or somthing? Thanks
I think that you get it after 55 and you used to be entitled to a part pension after 12 years service of course this info goes back to 1985
 
#5
malspal said:
matta12 said:
Hey I no after 18years of service you get a pension. Do you get this as soon as you leave after you have served 18years. Or do you get it when your 60 or somthing? Thanks
I think that you get it after 55 and you used to be entitled to a part pension after 12 years service of course this info goes back to 1985
...and is no longer the case.

matta - this is a very complex matter and you would be well advised to ask the question through more official channels.

And sorry, but I can't resist, the word is 'know'.
 
#6
Yes you can if you belong to the new AFP05 pension scheme and that you are 40 years of age. So you can see from that you would have to be about 22 years old on joining and have changed to AFP05. I was tempted when it came out as it looked as though I could retire straight away! Don't forget though as you would be completing less service = less pension

Cheers
 
#8
Re: Pension Reduction

Just received a letter from the Pensions people, and discovered that due to the decrease in the Index in September last, my Navy pension has been reduced by 2p ..... strange thing is my Mrs WMs Civil Service pension has stayed the same.
:scratch:

Anyone else been short changed by MOD ?
 

xchiefcook

Lantern Swinger
#10
Re: Pension Reduction

whitemouse said:
Just received a letter from the Pensions people, and discovered that due to the decrease in the Index in September last, my Navy pension has been reduced by 2p ..... strange thing is my Mrs WMs Civil Service pension has stayed the same.
:scratch:

Anyone else been short changed by MOD ?
Whitemouse i got my new paperwork through and mine has increased by £2.30... I reckon i got your 2 pence added to mine ...Cheers shippers
 
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