1.0 Introduction This article is not to be considered as legal or financial advice, and is written to provide an illustration of the current and legacy pension schemes in place. 1.1 Terms 1.2 Types of Commitment Benefits and allowances (including pensions) are related to the type of service commitment an individual is under: 1.3 How… Read More
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
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
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
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
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