Service Pension

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Pelican
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Service Pension

Unread post by Pelican »

I have no idea what this refers to in respect of 'Veterans' so if someone does please respond?

Public Sector Pension Ruling and the Armed Forces
July 16, 2019
On 15 July the Government issued a statement in response to the Court of Appeal’s ruling against it in the McCloud case (the challenge by firefighters and judges to the transitional arrangements that accompanied their new 2015 pensions schemes) and the subsequent Supreme Court decision to refuse it leave to appeal against it. In the Court of Appeal ruling, the ‘transitional arrangements’ (ie who did and did not have to transfer to the new schemes) were ruled discriminatory and thus unlawful.
The Government has accepted that there is read across to all other public sector schemes including the Armed Forces.
A remedy for the firefighters and judges will now be decided at the employment tribunal.
In parallel Government will be will be engaging with employer and member representatives in respect of other schemes to determine appropriate remedies. We will be fully engaged in this process.
Timelines are as yet unclear – but don’t hold your breath, there will not be a quick fix.
The judgement has blown a £4 Billion hole in the Government’s annual finances.
This judgement is likely to benefit a good number of Service personnel, but it won’t benefit all – especially those who joined up after 1 April 2015 – so don’t expect the AFPS15 scheme to go away. It will not.
However given that ‘the judgment does not alter the Government’s commitment to ensuring that the cost of public service pensions are affordable for taxpayers and sustainable for the long term’ the future is less certain and inevitably it will be looking at other ways of mitigating the additional expense. We do not know what these will be, but the new 2015 public sector schemes came with a promise that the Government would not need to look at new schemes for 25 years. We would imagine it now feels released from that promise.

For the original which contains further links go to:
https://forcespensionsociety.org/news/p ... ed-forces/
The above link looks as tho it is worth noting for future reference.
HMS Pelican 1938 - 1958 GGCV L86 U86 F86 What I Have I Hold ~ A wonderful bird is the Pelican its beak can hold more than its belly can.
User avatar
Pelican
Posts: 9746
Joined: Thu Aug 09, 2018 10:10 pm

Re: Service Pension

Unread post by Pelican »

PENSIONS

This is worth a read but note:

WHO?
The consequences of the legislation as it affects preserved pensions is that any member of the Armed Forces who left service after 1 April 1975 and who served over five years, might be entitled to a preserved pension (we will explore the machinations of the word ‘might’ later in this article). The second consequence unfortunately is more straightforward. If you left the Armed Forces before 1 April 1975 but had not qualified for a full pension (that is had served at least 16 years after the age of 21 for an officer, or at least 22 years after the age of 18 for a Rating/Other Rank), then you have no entitlement to a preserved pension. This is because they were deemed to have ‘left early’ under the terms of the Act, and because the scheme was (and remains) non-contributory they also have no entitlement to any refund. The cohort that might be entitled to a preserved pension; is therefore limited to those who left the Armed Forces after 1 April 1975. We must now address the word ‘might’, and this changes over time between 1975 and 1988. This is because pension entitlement has been progressively amended since 1975, either through subsequent primary legislation or subordinate Statutory Instruments. This ‘might’ cohort can be broken down by time as in the table below:
There are a select few who, even though they may meet the above criteria, will still not have any preserved pension benefits. These are people who joined on non-pensionable terms (predominantly gratuity-earning short service commissions), members of the Volunteer Reserve, personnel who opted out of the Armed Forces Pension Scheme, and those who transferred their benefits into another occupational pension scheme.

See - https://forcespensionsociety.org/news/p ... A.facebook

Also - https://www.moneywise.co.uk/pensions/ma ... sYxUPo-Qag
HMS Pelican 1938 - 1958 GGCV L86 U86 F86 What I Have I Hold ~ A wonderful bird is the Pelican its beak can hold more than its belly can.
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