Here are our top tips for Veterans Pensions, hopefully helping you better understand your pension, the rules around the schemes, your eligibility and how to claim.
Eligibility. Are you eligible for a Armed Forces Pension? Read more about the eligibility rules here. Preserved/Deferred pensions – the rules
Keep an eye on your pension entitlement: If you have a Preserved/Deferred pension entitlement and are not yet in receipt of it, you can request a forecast each year by completing and submitting an AFPS Form 14 and returning to Veterans UK.
Know how pension increases work. Armed Forces pensions increase each year in line with the consumer Price Index (CPI), which ensures that the pensions take account of increases in the cost of living and that their purchasing power is maintained. For veterans the CPI increases come into payment at the ages shown in the table below, unless the veteran was medically discharged (in which case the increases are immediate) and are backdated to when an individual left the Armed Forces:
| AFPS 75 | AFPS 05 | AFPS 15 |
|---|---|---|
| Age 55 for pensions in payment or 60/65 if deferred | Age 55 for immediate pension or age 65 if pension is deferred | Age 60 for immediate pension or State Pension Age (67/68) if deferred. |
Know your state pension. You need to be aware at what age you are going to receive it and how much it is. You can check at this link.
YOU MUST CLAIM your Armed Forces Pension! It will NOT be paid automatically. You should claim approximately three to six months before it is due to come into payment by completing and submitting an AFPS Form 8 to Veterans UK.
Know what happens to your Pension if the worst happens. You might find this download document useful. Death & Family Pension Benefits.
Nomination: Although you don’t have to nominate, if you do, keep it under review or a hefty lump sum might be paid to the wrong person! Read more about this here. AFPS Nominations (Download). It might also be helpful to share this information to your family/dependants: Death of an Armed Forces Pension Scheme member which gives instructions on what to do on the death of a member currently in receipt or non-receipt of an Armed Forces Pension.
Keep an eye out for any changes to Pension Taxation rules. This handy video from MoD briefly explains the rules
Know who to contact about your pension: Veterans UK administer the pension, and Equiniti pay the pension. Details are:
Veterans UK, Armed Forces Pension enquiries: Joint Personnel Administration Centre (JPAC), Mail Point 480, Kentigern House, 65 Brown Street, Glasgow, G2 8EX. Phone: 0800 085 3600 – Phone (overseas): 0044 141 224 3600; Email: veterans-uk@mod.uk
Equiniti Paymaster: Phone: 0345 121 2514 – Phone (overseas) 0044 190 376 8625
This document: Armed Forces pensions – who does what/contacts (download) is handy to keep with your files.
And finally… CLAIM, CLAIM CLAIM! At time of writing, there are over 14,000 Armed Forces pensions not yet claimed! See our Call to Action here, and read more about our Unclaimed Pensions Campaign here.
IT PAYS TO UNDERSTAND YOUR PENSION!
All content correct at time of writing 12/09/2024
