What happened to the pensions ?

Discussion in 'Joining Up - Royal Navy Recruiting' started by The_Wonderer, Apr 2, 2007.

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  1. Hi all, I'm a "newguy" to this site and have been reading a lot of past threads but have'nt found enough info so far.
    I'm considering joining up, but was recently told that you lot have been robbed of your pensions too. (i.e. It does'nt matter how long you serve for now from this point; your getting nothing till your 65). As a result of this, I'm now considering joining the RNR instead because I cant see any real benefit to being in full time seeing as I have a family to consider too.

    Hopefully someone would like to enlighten me further (without taking the piss too much, as I've noticed you lot like to do).

    please advise
  2. When I spoke to a CPO at the AFCO, when I was first thinking of applying, which was about 2 months ago. I was advised I can work 18yrs (full service I am 28.) So leave at the age of 46 I receive a full pension which will automatically increase after the age of 55yrs.
    If this is the wrong info I will have to pay into a private pension asap!!!
  3. I'm pretty sure mine said you get 'nothing' regarding pension, till your 65 now.
    I'ts a shame that, because I think more and more people will now be opting for the reserve route.
  4. You're being fed a load of bollocks. Under the new pension scheme AFPS 05 you get a full pension from age 65, along with an additional lump sum. There is another point, typically equates to about age 40 (depending on time served) where you can get an EDP (early departure payment) and a 1st Lump Sum. The EDP is about 75% of the full pension rate and is frozen at that rate until either 55 or more likely 65 (can't remember the full details). Suggest you do a bit of research from informed sources, Careers Offices must be able to provide current & accurate info, if not try RN web site. I think you will find that this revised pension scheme is still better than anything in civvy street.
  5. I have just been checking out this link, there is loads of stuff to get through but it answers pretty much any questions you may have


    Now got a better insight to the pension scheme, I think it is still alot better than anything else on civvy street, my other half is a teacher and pays stupid amounts of money into her pension plan
  6. Thank's for that info 'fudge'. I'm glad I posted this
  7. thank's to xav too :wink:
  8. (In a sad attempt to carry this on further)
    Would anyone like to advise on any other benefits of being full time rather than reserve?
    I'd really appreciate any advise or opinions from actual professional serving members of both at this point.
  9. Concur as you don't make any payments into the pension fund. However, the AFPRB do take this into consideration when making their annual report and pay recommendation to the Treasury. 8)
  10. (sorry to re-spring this thread again. I know it's an old one but....)

    On the subject of pensions...

    (probably a question I could ask at my drill night, but I'm an impatient f****er, so hear goes...)

    If you are a reservist, and transfer to regs (when you would recieve a pension), is the time you have served prior taken into account, and added on to reg service pension contributions?

    hope that makes sense
  11. How about :

    Enlisting because you want to be a part of a fine service and not because you want a nice lump sum and a pension ?

    That you want, and will probably have, mates that will standby you when it gets tough (- wartime perhaps? ) - not a trait that is readily thought of in some areas of civvie street these days.

    I've served my time (1962-79), and like my old Dad (1939 - 1961) would probably do it all again given half the chance. I found more comradeship in the mob, than I have since I completed my service.

    Go for it - the pension, if you get accepted and then go on to serve 22 years, is a bonus.


  12. NO!
  13. You either seriously consider a career in the armed forces or you don't. Given the way you've framed your question, I would suggest that the best thing you can do is work for one of the many fast food retailers :pukel: out there who will only be too happy to see you employed cleaning up :tp: etc for a pittance every day. But hey...at least you'll go home every night.

    Get a life. :threaten:
  14. Since your first post proclaimed you as "a new guy" (Yes, I have noted the date), and you have since managed to accumulate 276 posts, you're either an idle f***er, who can't be bothered to take advice and ask the right people, or your not f***ing interested, in which case neither are the majority of contributors to this forum.
    So, if you don't mind me substituting one vowel for another, carry on wandering.

  15. Class!! :thumright: :w00t:
  16. Cheers Polto,
    Singing from the same hymn sheet seems to be in vogue!

  17. oh dear...

    Sorry guys...but a reasonable question I thought.
    I have infact been attending drill nights for the past 3 months.
    (maybe you did'nt realise)

    ...some people can be very judgemental cant they?
    ...dont worry though, so am I
  18. When I applied to join up (before failing the med for the Submarine Service :( ) the last thing I thought about was a pension. However I suspect the modern generation are more financially attuned to financial matters that my generation were in the late 1970s. I didn't even ask what I'd get paid in those far off days, I just wanted to be a sailor........ :) Sadly I've remained a lifelong civvy.

    Wonderer don't ask silly questions: join up and bother about the details later... If you've got sailor inside you, act the part, wear the dress, swagger the swagger and drain the wets :roll: :biggrin:

    ...you can wet the drains later, on your way back to your ship...
  19. Take AAC`s advice, i gather he`s had one or two Sailors inside him :w00t:
  20. I bow every day to the big anchor and thank Neptune that the buggers took off my share of the pension back when I first joined, without the option to not pay into it... otherwise it would have gone towards a case of beer, and today I would really be dry....(feck can't believe how much a case of beer costs today.... compared to then....) :hockey:

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