On 13 July the Government confirmed that it would accept the recommendations of the independent pay review bodies (AFPRB/SSRB), meaning 2023 pay awards of 5% plus £1000 for all ranks up to and including OF6, and 5.5% for OF7 and above.
These pay awards will be backdated to 1st April 2023. Personnel who left service prior to 1st April 2023 will be unaffected by the pay award.
For those still serving, although not mentioned specifically in the AFPRB report, both elements of the pay award (so the 5% plus the £1000) will be pensionable.
AFPS15
All serving members are now accruing pensions on AFPS15, and as such pension accrual is simply 1/47th of the pensionable salary earned in the scheme year (which fortunately runs from 1st April to 31st March which ties in with the pay award dates).
The AFPS15 pension earned in scheme/salary year 2023-2024 will be increased in each subsequent year, whilst you are serving, in line with changes in the Average Weekly Earnings index (AWE).
Once you leave the Armed Forces your benefits will be increased in line with changes in the Consumer Price Index (CPI) in the normal way.
Early Departure Payments (EDP) are a fixed percentage of your deferred AFPS15 pension, and consequently benefits will be automatically uplifted to reflect the impact of the pay award on your AFPS15 pension.
AFPS75 and AFPS05
These schemes are now closed to further accrual, but existing entitlements will, for most serving personnel, be uplifted to reflect the salary increase.
Forces Pension Society members with questions regarding the impact of the pay awards on their specific situation can contact the pension enquiries team in the usual way.
21 July 2023
