When do I get lump sum?

vauxhall

Lantern Swinger
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
 

NotLost

Midshipman
Rheawright, I am in a similar position to your Grandad (that makes me feel ancient) I was on AFPS 75 and transferred to AFPS 05. I have a pension forecast issued in 2009 which does show a second lump sum at age 65. Your query has prompted me to contact the Veterans Agency to ask for a pension forecast which will hopefully confirm the benefits of the 05 scheme. I have contacted them using “form 14” which can be downloaded from the gov.uk website. As Vauxhall has said await the agency’s response, if I have anything confirmed before they have responded to you I will post it on here.
 
Rheawright, I am in a similar position to your Grandad (that makes me feel ancient) I was on AFPS 75 and transferred to AFPS 05. I have a pension forecast issued in 2009 which does show a second lump sum at age 65. Your query has prompted me to contact the Veterans Agency to ask for a pension forecast which will hopefully confirm the benefits of the 05 scheme. I have contacted them using “form 14” which can be downloaded from the gov.uk website. As Vauxhall has said await the agency’s response, if I have anything confirmed before they have responded to you I will post it on here.
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?
@Bob Deeps
 
Rheawright, I am in a similar position to your Grandad (that makes me feel ancient) I was on AFPS 75 and transferred to AFPS 05. I have a pension forecast issued in 2009 which does show a second lump sum at age 65. Your query has prompted me to contact the Veterans Agency to ask for a pension forecast which will hopefully confirm the benefits of the 05 scheme. I have contacted them using “form 14” which can be downloaded from the gov.uk website. As Vauxhall has said await the agency’s response, if I have anything confirmed before they have responded to you I will post it on here.
Just an update, it was clerical error!!
 

NotLost

Midshipman
Clerical error - caused some worries for your Grandad! Glad it is sorted, so at 65 he will move from the EDP scheme to his pension and pension lump sum?
 

Bob Deeps

Newbie
Rheawright. My wonderful granddaughter has been a pillar of strength for her gran and I. Angry and upset is an understatement after the Curt letter received from Veterans UK. However, on the warpath she went and accessed lots of useful forums and contacts. And ultimately it turns out a supervisor found a clerical error! Well done Rhea
 

vauxhall

Lantern Swinger
Clerical error - caused some worries for your Grandad! Glad it is sorted, so at 65 he will move from the EDP scheme to his pension and pension lump sum?
Yes.

For those of you out there on EDP benefits do not forget that you have to claim the pension. If you don't the EDP will stop but the pension will not start. The claim form is the AFPS Form 8.
 
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NotLost

Midshipman
I have just Slim’s AFPS 05 explanation attachment and must admit it doesn’t read as I understand 05. I am on 05 having transferred from 75, left the service in 09 my pension projection which I have in front of me now reads as follows, Annual EDP income £X, EDP Lump sum £X x 4.28, Annual EDP income at age 55 £ X + £1,101, Perserved pension at 65 £X + £6602, Pension Lump sum at 65 same as EDP Lump sum. There is a graph included in my forecast which does show 2 lump sums. As suggested a chat with the vets gateway may be best for Rheawright ( I will be doing the same)
 

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