Armed Forces Pension Scheme Rule Change

Regulars and Reserves who were in the Armed Forces pension scheme (AFPS) on or before 31 March 2012 and on or after 01 April 2015 could benefit from a rule change. Eligible personnel who were transferred from legacy schemes (AFPS 75 and 05 for Regulars or FTRS 97, RFPS 05 and NRPS for Reservists) will… Read More

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Financial Tips for After You Leave the Military

When it is time for you to leave active duty in the military, there are many things for which you must prepare. One of the important aspects is how to set yourself up financially – not only immediately after you transition to civilian life, but for the long-term as well to build up your nest… Read More

Military Divorce: How Is It Different?

Introduction Many things you will do in the military will be much different than you would experience them in civilian life, and the same is true for getting divorced. If you or your spouse are in the military and you are divorcing, you will experience common issues that other couples who are divorcing face, but… Read More

The (Military Pension) X-Factor Explained

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

MOD States Impact of Pension Ruling Personnel Unclear

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

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

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