by Andrew Marshall

Pensions & the State: A Chronic Headache

“EMPEROR AUGUSTUS came to power with the help of a private army. So he was understandably keen to ensure the loyalty of his soldiers to the Roman state. His bright idea was to offer a pension for those in the army who had served for 16 years (later 20), equivalent in cash or land to 12 times their annual salary. As Mary Beard,… Read More

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by Andrew Marshall

Future Armed Forces Pension Scheme: Key Points

The main features of the new scheme are (new features in bold): One scheme for all – including Reservists. A Career Average scheme (rather than final salary). No personal contributions. A pension accrual rate of 1/47th for all. Benefits earned under the new scheme while serving will be increased (‘revalued’) annually by an average earnings index.… Read More