Forces Pension Society

Fighting for the forces and their families

Confused About Lump Sum Choices? Read On…

May 15, 2017
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In last month’s Pathfinder we looked at tax on pension and Early Departure Payment (EDP) Scheme income.  As promised, this issue will set out the choices you will have to make about various lump sums.

There are three pension schemes for regulars and most of you will have built up benefits in two, following the transfer of every regular under the age of 48 on 1 April 2015 to AFPS 15. Full Time Reserve Service (FTRS) personnel, including those on Additional Duties Commitments (ADC), were pensionable as Reserve Forces Pension Scheme (RFPS) members.  RFPS members who were under the age of 53 on 1 April 2015 were transferred to AFPS 15 on 1 April 2015, so could have RFPS and AFPS 15 benefits in respect of the same period of service.  It is theses combined benefits which cause the most confusion and it is that confusion we hope to dispel with this article…

Read the full article on pages 6 and 7 of this fantastic issue of Pathfinder 

 

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