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When do I get lump sum?

I am unsure weather My grandad is on the 75 or 05 pension scheme. He received a large lump sum when he left the navy at 50, He is now nearly 65, is he supposed to get another lump sum now He is at retirement age?
He has a letter saying that he is on the 05 scheme, but as he is 3 months off retirement age, he has requested his lump sum, he has received a letter saying that he is on the 75 scheme and there will be no lump sum, him and my nan are in a mess and just want some clarity. He served 33 years and I know that he was a warrant officer, he’s received pension payments since he retired at 50, but they wasn’t much. He has banked his whole life on the fact that he is gojng to get a further lump sum at age 65, now to be told that he isn’t, does any of this sound right? Can anyone help?
 
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I find it odd that you say 'he has banked his whole life on the fact that he is going to be getting a further lump sum'. In the scale of things this is a rather recent innovation. However, the Armed Forces Pension Agency should be able to provide clear advice, as previously mentioned. Maybe phone them for a chat, they're very helpful.
 
I find it odd that you say 'he has banked his whole life on the fact that he is going to be getting a further lump sum'. In the scale of things this is a rather recent innovation. However, the Armed Forces Pension Agency should be able to provide clear advice, as previously mentioned. Maybe phone them for a chat, they're very helpful.
Sorry, I meant his life as I’ve known him, after navy.
 
I am unsure weather My grandad is on the 75 or 05 pension scheme. He received a large lump sum when he left the navy at 50, He is now nearly 65, is he supposed to get another lump sum now He is at retirement age?
He has a letter saying that he is on the 05 scheme, but as he is 3 months off retirement age, he has requested his lump sum, he has received a letter saying that he is on the 75 scheme and there will be no lump sum, him and my nan are in a mess and just want some clarity. He served 33 years and I know that he was a warrant officer, he’s received pension payments since he retired at 50, but they wasn’t much. He has banked his whole life on the fact that he is gojng to get a further lump sum at age 65, now to be told that he isn’t, does any of this sound right? Can anyone help?
I have emailed your grandad direct about this as he contacted the Veterans Gateway.

It maybe just an error and he must give Veterans UK time to look at the paperwork. I know it is stressful but that is the best way forward.
 
He got about 60 000 when he left at 50, was this his lump sum?
Yes.

If he was on the 75 pension he would have received that one and only lump sum. He also receives a monthly payment from the day he left. The size of this monthly payment varies from person to person depending on a few factors.

I can’t help you with 05 or 15 changes. The figures at the times for those who had served a few years weren’t good to change over from 75 - 05. Unless apparently you were a Warrant Officer who had already completed your 22yr original engagement.

Just seen vauxhall’s reply. Hope you get it sorted.
 
Yes.

If he was on the 75 pension he would have received that one and only lump sum. He also receives a monthly payment from the day he left. The size of this monthly payment varies from person to person depending on a few factors.

I can’t help you with 05 or 15 changes. The figures at the times for those who had served a few years weren’t good to change over from 75 - 05. Unless apparently you were a Warrant Officer who had already completed your 22yr original engagement.

Just seen vauxhall’s reply. Hope you get it sorted.
He was a w
Yes.

If he was on the 75 pension he would have received that one and only lump sum. He also receives a monthly payment from the day he left. The size of this monthly payment varies from person to person depending on a few factors.

I can’t help you with 05 or 15 changes. The figures at the times for those who had served a few years weren’t good to change over from 75 - 05. Unless apparently you were a Warrant Officer who had already completed your 22yr original engagement.

Just seen vauxhall’s reply. Hope you get it sorted
I’m just trying to make their life easierI know he was a warrant officer and served 33 years. they are just so stressed.
 
Yes.

If he was on the 75 pension he would have received that one and only lump sum. He also receives a monthly payment from the day he left. The size of this monthly payment varies from person to person depending on a few factors.

I can’t help you with 05 or 15 changes. The figures at the times for those who had served a few years weren’t good to change over from 75 - 05. Unless apparently you were a Warrant Officer who had already completed your 22yr original engagement.

Just seen vauxhall’s reply. Hope you get it sorted.
Someone leaving before age 55 for AFPS 05 would get an EDP lump sum and EDP payments (so worth about 3/4 of the pension from age 55 to 65 for AFPS 05). The actual pension is then normally payable from age 65 (although it can be claimed earlier with actuarial reductions). It is this second lump sum that made the transfer to AFPS 05 attractive to some people. Further, AFPS 05 counted service before age 18 for ORs (before 21 for Officers) which AFPS 75 did not count.

As you say, let's give Veterans UK time to look at the paperwork in this case and, hopefully, work the problem out.
 
Yes.

If he was on the 75 pension he would have received that one and only lump sum. He also receives a monthly payment from the day he left. The size of this monthly payment varies from person to person depending on a few factors.

I can’t help you with 05 or 15 changes. The figures at the times for those who had served a few years weren’t good to change over from 75 - 05. Unless apparently you were a Warrant Officer who had already completed your 22yr original engagement.

Just seen vauxhall’s reply. Hope you get it sorted.
Sorry I don’t think this sent earlier, he was a warrant officer and served 22 years
 

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