Re: Armed services to serve longer but still earn smaller pension
Quote:
Originally Posted by
Gwyn Nicholas
I had nor realised that the pension age had changed to 18 years fo a soldier over 40 from the original 22 years from my time. Having read the Army MOD site I am a little better educated. It would seem that they are moving back to the old system albeit 20 year service rather than 22 and moving the goalpost for a full pension from 55 to 65 (67).
Sid mentioned and I agree, that the age change will save the Government huge amounts of money as it is petty well known and accepted, that a large percentage of soldiers die younger than pension age. It would be interesting to see if somebody wth influence or accredited will come up with some facts and figures to put to the PM and question the morality of such a decision. Perhaps Lord "Paddy" Ashdown may be worth an approach.
For those interested (not teaching Granny etc)
My time (1994) Serve 22 years (regardless of age) receive lump sum + monthly pension. Also permitted to commute part of pension to increase lump sum and reduce monthly pension. Lump sum and comutation is Tax free. Pension is index linked though no rises are seen in monthly pension until the age of 55 when a Full pension becomes available. In my case my pension increased by approx 87 percent over the fifteen years.
Now it appears, that you can leave after 18 years (40+) with a lump sum and a pension but have to wait until 65/67 to get the rest. Swings and roundabouts I suppose ie early finish and hope you make it to 65/67. For me, this is not morally right as many will not have many years to enjoy the fruits of their labours and some wont even get there. Shame on these penny pinching - pin striped morons.
Reading this reminded me of the Brigadier who commanded the BR(RCZ) when I was working there. He, obviously, had hundreds of years of service on the day he retired. Within a week of his leaving the headquarters we heard that he had died of a massive heart attack. Notwithstanding any widows pension, that very sad event (he was a nice guy) was a HUGE saving in pension payments. I also read, somewhere, that the AVERAGE length of time an MOD pension is drawn by the recipient is SEVEN years (that was in the early 90s, so it may have changed by now).
