Discussion in 'Finance & Pensions' started by Tritech, Jul 20, 2010.

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  1. Hello all, I am after a bit of advice on my pension. When the new pension system was introduced I was given the option to change over, I declined this as I didn't see myself taking 2OE so did not think that I would get any benefit in transfering. As you all know, circumstances change and I have now been offered EC15 and I have accepted. So, now that I am staying in the RN longer, it makes every sense to be on the new pension scheme, so my question is, can I transfer onto AFPS05 this late in the day? Or has that ship sailed and have I dipped out?
  2. NO - you have missed that ship! How do I know? - I'm in the same position myself :(
  3. I thought as much. But I was wondering wether there was a case for a representation? As I said, circumstances change, when offered to transfer I had no need to. Now I do. Just wondering
  4. I believe that there is a potential case for a representation, it could be argued that the RN "moved the goalposts" by offering you EC15, after you had had to make a far reaching financial decision.

    Let us know how you get on :lol:
  5. I'm in the same position, opted to stay on the old pension scheme, got 2OE(5) in 2005 and EC5 in 2009, would be interested to see if you get any joy should you make a representation.
  6. Have you tried the Forces Pension Society to see if they have any advice or know of anyone that has successfully appealed?

  7. It is strongly recommended you ring the Forces Pension Society on 0207 820 9988 or email [email protected] and speak to the Pensions Secretary who is the National expert in Armed Forces Pensions. See also
  8. David is a fountain of knowledge.Answered all my questions by e mail.
    Well worth he joining fee,saved me thousands of pounds
  9. tiddlyoggy

    tiddlyoggy War Hero Book Reviewer

    I too am in the same position. though I don't really see your point here shippers, the RN didn't move the goalposts as EC is a different thing to pension. Clear deadlines were given and made widely available to all before the cut off point. I really don't see how a representation could be successful. That said, I'd be interested to see how Tritech gets on, it could open the flood gates.
  10. EC is, by definition, a contract extension past a "normal" retirement point i.e. OE1 plus 2-15 years (or officer equivalent). Total time served is very relevant to pension payments so I would argue it is a very valid point, particularly if a significant change was made to your career length after you were obliged to make a decision on pension scheme. Interestingly, the original offer to transfer paperwork made reference to a "one off" opportunity to re-visit the decision later; this clause was amended in later versions of the same document. Whether or not a valid or successful representation could be made is subject to the "suck it and see" test - I strongly believe it won't ever happen because of the "flood gates".
  11. tiddlyoggy

    tiddlyoggy War Hero Book Reviewer

    Of course time served is relevant to pension, the point I was making is that I don't see how you could claim the RN had moved the goalposts by offering EC. Moving the goalposts to my mind would be a change to the terms of his pension itself, not offering EC as this is (albeit a related) a different subject.
    Incidentally, has anyone else seen the bulletin released this week wrt the government reviewing our pensions? Seems they want to chop them too.
  12. I am sorry to say that the Offer To Transfer was a one-off exercise. The only way you can revisit your option is if the MOD gave you a misleading OTT pack.
  13. That could be quite difficult to prove, as most will be filed next to the attitude surveys.

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