AFPS15 Breakdown: What You Need to Know
In this video, we break down the AFPS15 pension scheme so you don't take it for granted. Learn everything you need to know about the Armed Forces Pension Scheme 2015 in simple terms.
We'll explore the voluntary, non-contributory, defined benefit nature of the pension scheme. I break down the intricacies, from career-average revalued earnings to the invaluable Early Departure Payment.
Discover the impact of AFPS15, addressing misconceptions and highlighting the financial security it offers. Uncover the hidden gems, like the Resettlement Grant and Added Pension options. It pays to understand your pension and by watching this video, you will have a new found appreciation for your Armed Forces Pension and realise how valuable it really is.
Video Links:
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Armed Forces Pension Calculator - • Have You Used The New ...
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Timecodes:
0:00 Intro
1:28 Initial Thoughts
3:50 Why The Pension Scheme Changed
4:51 What Is The Armed Forces Pension Scheme 2015 (AFPS15)
8:38 Am I a Member of the AFPS15?
9:29 How much time do I need to serve to be eligible for the AFPS15?
10:27 When does the AFPS15 become payable?
12:08 How do I claim the AFPS15?
13:11 How is the AFPS15 calculated?
20:17 What is the Early Departure Payment (EDP)?
24:52 What is the Resettlement Grant?
25:33 How to create a lump sum with the AFPS15 via Commutation?
26:46 Can I contribute towards my AFPS15 (Added Pension)?
28:17 Final Thoughts
29:37 Outro
Sources:
assets.publishing.service.gov...
assets.publishing.service.gov...
assets.publishing.service.gov...
ifs.org.uk/articles/reduced-d...
ifs.org.uk/sites/default/file...
assets.publishing.service.gov...
ifs.org.uk/sites/default/file...
forcespensionsociety.org/2024...
forcespensionsociety.org/2023...
forcespensionsociety.org/2022...
forcespensionsociety.org/2023...
www.gov.uk/guidance/veterans-...
www.gov.uk/guidance/pensions-...
DISCLAIMER:
The views and opinions expressed in this video are my own and do not necessarily reflect the views of the British Army or the Ministry of Defence.
I am not a professional financial advisor and this video is not financial advice. Please do your own research before making any decisions with your money and seek professional financial advice if need be.
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