Forces Pension Society

Fighting for the forces and their families

Don’t Leave it too Late!

February 28, 2018
March Boots

Many of our members join us as they approach their discharge or retirement from the Armed Forces so that we can provide a full and detailed explanation of their pension benefits and illustrate their various options regarding ‘commutation’ (essentially the ability to flex between lump sums and income streams).

This makes perfect sense of course and it would be difficult to argue against having your entitlements and options explained to you before you leave  – however joining the Forces Pension Society before you decide to leave and therefore before you enter the resettlement process would be the more sensible thing to do – we frequently have discussions with our members regarding the timing of departure and when would be the best time to leave from a pension perspective – the difference in awards based on just a few days extra service (or indeed, by leaving the services a few days earlier than planned) can be significant, sometimes huge! 

If you come to us having ‘signed off’ and therefore your discharge or retirement date has already been set, changing that date might not be possible – join us first, early in your career and by doing so, by the time you come to thinking of leaving, you will have a firm handle on your entitlements and will be able to not only make the commutation decisions that are right for you, but also ensure that you are leaving at precisely the right time and not a week or two the wrong side of the optimum departure date.

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