Government is considering reducing the Lump Sum Allowance level on the 30 Oct Budget

[Dan_Brown]

Well this worrying..........

Is my Armed Forces pension tax-free lump sum safe? - Forces Pension Society

Potential changes could impact Serving Personnel and some of our Veterans

forcespensionsociety.org

https://forcespensionsociety.org/wp-content/uploads/2024/10/20241011-LSA_Budget_24_CST-CEFPS.pdf

 

[Dan_Brown]

Daily Fail, but https://www.dailymail.co.uk/news/ar...ncellor-national-insurance-Budget-Labour.html

 

[Downsizer]

PVR now fellas. Glad I'm out.

 

[Tin basher]

If true (hopefully not) then yet another benefit of service, your lump sum, will be reduced or removed.

 

[Spearmint]

Don't buy a house,
Don't buy a car,
Save your money,
And PVR now as there'll be **** all left at the end of it if Rachel Reeves gets to dig her claws in.......

 

[Tin basher]

Don't buy a house,
Don't buy a car,
Save your money,
And PVR .....

The door of trap 3 airmans bogs 7 Sqn sunny ST Athan way back in the day had an older version but conveyed exactly the same sentiment. Just swap Video for House

 

[muttywhitedog]

I took partial retirement last month and my lump sum is received and invested. If true, I can see a lot of folk doing likewise at my place.

 

[Captain Kirk]

They are on about capping the lump sum, and the figure they are soak testing is £100,000, so not a lot of non commissioned need worry.
Those that have DC/ decent pension funds as well may meet the cap.

 

[busby1971]

Like the winter fuel payment to have any meaningful revenue impact this needs to come down lower than expected, it looks like the public sector may be protected, so the burden will fall on those with the less beneficial DC private sector pensions.

Personally I think they need to leave private pensions alone, especially after the damage GB did.

 

[Cooheed]

Labour, in power, equates to pension raids in all it's forms.

 

[Tin basher]

Labour, in power, equates to pension raids in all it's forms.

Whoever makes the changes, and what ever the changes are, I've never known a pension change to benefit the recipients.

 

[muttywhitedog]

Labour, in power, equates to pension raids in all it's forms.

And the Tories increased the amount pension funds paid out on retirement?

Have you heard of the McLoud judgement?

Do you know which Government started to use the lower CPI rather than RPI for calculating pension payments?

 

[Cooheed]

And the Tories increased the amount pension funds paid out on retirement?

Have you heard of the McLoud judgement?

Do you know which Government started to use the lower CPI rather than RPI for calculating pension payments?

Enlighten me......

 

[Rigga]

Had notice of this year's MOD Pension rise....1.7% - I'm wondering which months I can afford a Mars Bar in...
.

 

[muttywhitedog]

Enlighten me......

George Osborne in July 2010.

 

[ady eflog]

They are on about capping the lump sum, and the figure they are soak testing is £100,000, so not a lot of non commissioned need worry.
Those that have DC/ decent pension funds as well may meet the cap.

Mine is projected to be £104,120 as a techie, if, i stay in till 59. Pension is 40K