A brief article to help you understand that ‘extra’ cash in your monthly pay. What is the X-Factor? It is an addition to basic pay that recognises the particular challenges of military life. Brief history The X-Factor was introduced in 1970. Male soldiers received 5% whilst female soldiers received 1%. The rates were not equalised… Read More
Soldiers face a wait to find out how they will be affected by a recent ruling on firefighter pensions. An earlier court decision found that changes made to the emergency service workers’ arrangements in 2015 discriminated against younger staff who were forced to move to less beneficial schemes. The government tried to appeal against the… Read More
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
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
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.
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.
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