Pensions

geoffg

Lantern Swinger
Hello
I was wandering if it would be a good idea if there was a full commutation option at say 55 instead of going index linked. Pension could be resumed at 65.
Reason I say this is because if you happen to be unfortunate to be unable to work for any reason, you wont get incapacity benefit as your pension takes you above the threshold.
Had you been a drug addict or alcoholic since leaving school and not earned a pension, you'd be getting incapacity allowance.
Just a thought
geoff(ers) :nemo:
 

oldbaldy

Badgeman
geoffg said:
Hello
I was wandering if it would be a good idea if there was a full commutation option at say 55 instead of going index linked. Pension could be resumed at 65.
Reason I say this is because if you happen to be unfortunate to be unable to work for any reason, you wont get incapacity benefit as your pension takes you above the threshold.
Had you been a drug addict or alcoholic since leaving school and not earned a pension, you'd be getting incapacity allowance.
Just a thought
geoff(ers) :nemo:

Are you sure?
No mention here:
http://www.direct.gov.uk/en/DisabledPeople/FinancialSupport/DG_10016082
 
Don't know about commuting the MOD pension at 55 don't think so though
cos they won't know your 'life expectancy' and terms of pay back.

Disability allowance you should be able to claim -- try it anyway . Its a handy thing to have and if you qualify as long term it goes on forever !!
Even after OAP dates. There is also a handy ''carers allowance '' that can be claimed aswell . The Mobility scheme is a nice one too with car being available .

Try it --however watch out cos the medical is becoming harder and also it won't be your local doctor who gives the report on your health.
Too many people on the 'disabled lists '' that are fitter than most 16 year olds :thanks: :thanks:

:nemo: :nemo:
 

geoffg

Lantern Swinger
Old Baldy,
Yes I'm sure. The rules state that 50% of any pension income over £85 per week has to be deducted from your incapacity benefit entitlement.
So if you're entitled to say £60 incapacity benefit and your pension is £150 a week, they deduct £75 from £60 and you get diddly.
They will, however, pay your NI stamp as long as you send in sick notes.
geoff(ers) :nemo:
 

middle_watch

Midshipman
Hope I can help with this. I left the RN on the boot of a courts martial and they told me I was not entitled to any future benefits. I will not go into my disgust at how they handled what was essentially a done deal from the start BUT THE BIT ABOUT FUTURE BENIFITS IS TOTAL BOLLOXS!

I know the pension rules changed every so often but I joined in 1978 and was prodded out of Drake barracks at gun point in 1994, and I now draw £500 plus a month in pension from my 60th. BUT, repeat BUT!!!!!!!! You have to claim it, they will not hand it out with a smile and a thankyou.

I am not going to post the link to claim the pension because they keep changing it, wonder why? Go to the Royal Navy Association Website, they pointed out the way to claim for me.

Although they may not want to hand it out if you paid into it your are entitled, trouble is as it did not appear on our pay chits they dodged it for years, but now they admit it, it was in our joining contract. Claim what you earned, Ship Mates.

Oh and let me open this up, after I realised I had pension assets I persuaded my wife to look into her previous jobs, turned out she had ten grand sat in an account from a job she did for five years, two decades ago, although she had stopped paying when she left the pot she paid into continued to be invested and did rather well.

Luck to you all.
 

vauxhall

Lantern Swinger
Hope I can help with this. I left the RN on the boot of a courts martial and they told me I was not entitled to any future benefits. I will not go into my disgust at how they handled what was essentially a done deal from the start BUT THE BIT ABOUT FUTURE BENIFITS IS TOTAL BOLLOXS!

I know the pension rules changed every so often but I joined in 1978 and was prodded out of Drake barracks at gun point in 1994, and I now draw £500 plus a month in pension from my 60th. BUT, repeat BUT!!!!!!!! You have to claim it, they will not hand it out with a smile and a thankyou.

I am not going to post the link to claim the pension because they keep changing it, wonder why? Go to the Royal Navy Association Website, they pointed out the way to claim for me.

Although they may not want to hand it out if you paid into it your are entitled, trouble is as it did not appear on our pay chits they dodged it for years, but now they admit it, it was in our joining contract. Claim what you earned, Ship Mates.

Oh and let me open this up, after I realised I had pension assets I persuaded my wife to look into her previous jobs, turned out she had ten grand sat in an account from a job she did for five years, two decades ago, although she had stopped paying when she left the pot she paid into continued to be invested and did rather well.

Luck to you all.
The form is an AFPS Form 8 (available on the internet) and it should be submitted about 3 months before the date the pension is payable. Those of you who are currently receiving AFPS 05 EDP benefits need to remember that, even though you are receiving EDP income, when it stops, your pension will not start unless you claim it. The same applies to AFPS 75 members who left on or after 6 April 2006. Even if you have claimed the part payable at 60, you need to claim the part earned on or after 6 April 2006 (payable at age 65), or it will not be paid.
 

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