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Serving personnel can buy added AFPS15 pension by either making monthly contributions or by way of lump sums.

Either method involves you entering into a contract for the remainder of the tax year, and a new contract is required for each new tax year.

Contributions can be deducted from salary (either monthly payments or lump sums), or lump sum payments can be made by cheque.

But, did you know that if you buy added pension via monthly contributions from salary, tax relief is given automatically at your highest rate. This is also true if you pay a lump sum which is deducted from your salary. However, if you choose to pay a lump sum by way of a cheque (payable to “The Accounting Officer MoD”) then you must pay the full sum and obtain your tax relief (basic and higher rate) via your tax return.

Minimum premiums are set at £300 pa so if you opt to pay monthly and start paying in April then the minimum will be £25 pm. However, if you start to pay in October then your minimum monthly contribution will be £50 (6 x £50 =£300).

Before purchasing Added Pension you must first request a quotation from DBS using AFPS Form 6.

Read more about Added Pension

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