There is a lot of talk at the moment about lifting the cap on public sector pensions awards, and perhaps even implementing the full awards that Review Bodies recommend.
Unusually the Armed Forces do not feature in the public debate around this – the case at the moment is usually made around fireman, nurses, and other workers – but if there is to be some easing of restrictions that should apply to the Armed Forces too. We are aware that the award will be announced later than usual next year, therefore any increases will also be introduced later than usual.
However, we have been told that the award will be backdated to 1 April and therefore other than the delay associated with the announcement and implementation there will be no detrimental impact on pension awards as a result.
The Society will be staying very close to future announcements and will advise our members when the time comes.