What is a Parents Pension?

Parents pension were first introduced during World War I (114-1918). At that time, adult sons and daughters had a duty under the Poor Law to contribute towards the support of their parents if they were in financial need. The state accepted responsibility for replacing, within certain limits, the support which a son killed in action… Read More

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Who Pays Your (UK) Armed Forces Pension?

All UK Armed Forces pensions are paid for, on behalf of Veterans UK, by the Armed Forces Pension Payment provider, Equinti Paymaster. Since 2015, Equinti Paymaster has been a subcontractor of DXC Technology. For overseas veterans, Equinti Paymaster pays pensions on the date they are due, with payments then routed to overseas bank accounts via… Read More

What is the Unit Cost for Employing & Maintaining a Paratrooper?

The capitation rate for a member of the Parachute Regiment in the financial Year 2014/15 was £43,168. This included: Pensionable and non-Pensionable Pay; Earnings-Related National Insurance Contributions (ERNIC); and Superannuation Charges Adjusted for Past Experience (SCAPE). Reference FOI 2014/01589/73049 dated 10 June 2014.

What is the Unit Cost for Employing & Maintaining a Royal Marines Commando?

The capitation rate for a basic Royal Marine Commando for the financial year 2014-2015 was £30,510.00. This rate included pay, National Insurance and pension contributions. The capitation rate did not include unit costs or career training costs. Reference FOI 2014/01587 dated 02 June 2014.

Funding the Armed Forces Pension Scheme (AFPS)

What is the AFPS? All members of the armed forces are automatically enrolled into the Armed Forces Pension Scheme (AFPS) and, unlike almost all other schemes, members pay 0% in contributions each month. The scheme is also protected by legislation and distributed from the public purse. Three APFS Schemes There are three revisions of the… Read More

Pension: Regulars Rejoining As Reserves

Regulars who rejoin as a Reserve will see their pension abated. This applies to those on Full-time Reserve Service (FTRS) (AFPRB, 2018, p.20). Further, Reservists are expected to leave the Service at age 55 but the Armed Forces Pension Scheme 15 does not pay out until age (AFPRB, 2018). However, there is a practice that… Read More