2 years in rank for pension?

[Soon To Leave]

This is one of a number of proposals that has been put forward for 2015 onwards. No - it's not a rumour!

 

[Roobsta]

I can see a few folks weighing up the options on whether to leave in late2015/early 2015 prior to the suggested pension changes coming in. I for one, will be among them. Part of the reson I joined was to get the immediate pension. I'm now 25 years down the line and would just be ready for a "nice little job" at age 48 (LOS30 point) with the pension making up the difference. Messing with Forces pensions will not go down well.

 

[mrsribs]

However, just to further confuse things, if you get a period of Special Paid Acting (SPA), say for an OOA, authorised by Manning, then the time spent in SPA rank actually counts towards the 2 yrs needed to qualify for the higher rank pension.

Would you be able to advice me where I stand then? I have just done 6 months Acting FS on an overseas tour, my OC went home early and there was nobody available to replace him at short notice, so I ran the DET and I am pretty sure it was authorised by Manning along with a few other concessions.

I have just reverted back to SGT as the new OC has arrived. I have seniority, very good reports and this year I was given an extremely good report, highlighting what I have done Acting wise and endorsed by a 3rd RO.

Without sounding arrogant or cocky my expectations for this years board are high. If I get picked up will that previous 6 months Acting count towards my 2 year period?

Very interested to find out.

Many thanks.

 

[busby1971]

CPI again

CPI again

Career average pensions are toted as being fairer because there is more equality between women and men, basically they both get less, men get a lot less and women get a little bit less.

For instance the pension will be based on a percentage of the salary earned that year, possibly around 1/60th to 1/80th so you work for a year and your pension pot is credited with a percentage of that years salary, this happens year after year until you reach the schemes normal pension age at which point it is paid out, the scheme may have a minimum pension age where a reduced pension may be paid out, for instance the current civil service normal pension age is 60 but has a minimum age of 50, although this changed for the latest scheme to 65 for the normal pension age.

Now up until this year the stored amount rose every year in line with RPI, but from now on it will go up CPI (this has been debated to death on hear but most agree it averages around 1 - 2% less per year) so with over 40 years between joining and getting to 60 your pension could lose out on 40 to 80 percent of rises (note not 40 to 80% of your rise but with recent inflation rates probably about 20 - 25% lower increases).

Another change that is happening is a move to align normal pension ages with state pension ages, after all we're all living longer so now we can all work for longer can't we so an expectation that the normal retirement age rises to 68 is not exactly impossible but a lower figure between 60 and 68 may be more plausible (initially).

The final point I would like to make and probably the least likely to be pushed through would be a back dating of the changes, it is currently not possible for this to happen, however, laws can be changed not by this government but the next or any subsequent government may choose to do so.

 

[True Blue Jack]

Career average pensions are toted as being fairer because there is more equality between women and men, basically they both get less, men get a lot less and women get a little bit less.

I expect there to be some winners among a career-average pension scheme as well: PTIs, NCA, DE ATC and nurses spring to mind but overall, I do think it's a bad idea.

 

[CC]

However, just to further confuse things, if you get a period of Special Paid Acting (SPA), say for an OOA, authorised by Manning, then the time spent in SPA rank actually counts towards the 2 yrs needed to qualify for the higher rank pension.

Would you be able to advice me where I stand then? I have just done 6 months Acting FS on an overseas tour, my OC went home early and there was nobody available to replace him at short notice, so I ran the DET and I am pretty sure it was authorised by Manning along with a few other concessions.

I have just reverted back to SGT as the new OC has arrived. I have seniority, very good reports and this year I was given an extremely good report, highlighting what I have done Acting wise and endorsed by a 3rd RO.

Without sounding arrogant or cocky my expectations for this years board are high. If I get picked up will that previous 6 months Acting count towards my 2 year period?

Very interested to find out.

Many thanks.

Hi,

The only was you can be sure you got SPA is to speak with your desk as it's only Manning that can authorise SPA.

Looking at the circumstances, it may be a case of Acting Higher Rank supplemented with subs pay.

Good luck though.