Today we visit a common question we get asked, and circles around pension increases.
I’ve just spoken to Equiniti regarding my Armed Forces pension. I thought my pension was supposed to be increased by 10.1% in April 2023, however, Equiniti say that I won’t receive that until age 55. Is this correct?
If you are leaving with an AFPS 75 Immediate Pension (IP) and are not yet aged 55, the PIs are stored for you and become payable at age 55. When the PI is applied (and it happens automatically), it will be based upon your original pension award, not any reduced amount you might be receiving due to Resettlement Commutation.