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Aggregation of Pensions

If you re-joined the Regular Armed Forces having previously left with a preserved pension (PP) have you thought about aggregation?

Aggregation of pension is the joining together of two periods of pensionable service so that they count as one. In this article, which is particularly relevant to those who left and re-joined before April 2015, Mary Petley of the Forces Pension Society looks at the difference aggregation could make to family finances and the things to consider when deciding whether to do it. If you left with a PP, it is not affected by the pension rules in place for any new service unless you so choose.

When you aggregate you are agreeing that the first period of service should be treated in line with the rules that apply for the new service. You can aggregate an AFPS75 PP with other AFPS75 benefits, an AFPS75 PP with AFPS05 benefits, or an AFPS05 PP with other AFPS05 benefits. AFPS15 does not permit aggregation BUT aggregating the AFPS75 and AFPS05 can certainly affect AFPS15 benefits.

Let’s look at a few examples:

Aggregation is often beneficial but it is not a ‘given’ – always analyse the figures carefully.

If you are a Member of the Forces Pension Society, you can ask about it on pensionenquiries@forpen.

This article was written for the spring edition of Envoy Magazine

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