Forces Pension Society

Fighting for the forces and their families

The Best Bit – have your cake and eat it!

August 8, 2017
Best Bit

There are a number of individuals who are leaving the regular Armed Forces with entitlement to AFPS15 EDP awards and a deferred AFPS15 pension that is payable at their State Pension Age.  But did you know that there is something you can do about getting that deferred AFPS15 pension paid earlier without having to have it actuarially reduced in value…? Join the Part Time Reserves.

If you join the Part Time Reserves your salary earned is pensionable under the AFPS15 pension scheme, so that service will add a little more to your AFPS15 deferred pension you earned during regular service. If you stay with the Part Time Reserves until the age of 60, when you finish that service your AFPS15 pension goes into payment.  Not bad eh?

But here comes the best bit.  Just because your AFPS15 pension goes into payment before your state pension age, it does not mean that your AFPS15 EDP income stream ceases at age 60.  It does not.  It continues to be paid until your state pension age; so for seven years or more you can receive your AFPS15 EDP income stream and your AFPS15 pension at the same time..!!

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