Timecodes: 0:00 Intro 0:29 Calculator Improvements and Exceptions 0:58 Where Veterans can go to receive a pension statement/forecast 1:44 2015 McCloud Remedy Re-Cap 5:40 Walkthrough of the Armed Forces Pension Calculator - AFPS75/15 10:42 AFPS75/15 Results on the Armed Forces Pension Calculator 11:25 AFPS75/15 Dual Forecast Explanation 12:32 AFPS75/15 Pension Benefit Amounts 21:23 AFPS05/15 Intro 22:07 AFPS05/15 Pension Benefit Amounts 26:05 Final Thoughts 26:58 Outro
@precociousdeathdealer202
Жыл бұрын
Mate this is a wonderful video and made my doubts clear. I ALWAYS wanted to know how AFPS 05 would look had I enlisted in 2005. My only question is why the final pension accrued is so low. Did they rank up slow?
@thesavvysquaddie
Жыл бұрын
Thanks for the comment. The promotion rate for the example was about every 3 years or so. Also I did used someone on Supp1. That way, anyone on a higher supplement level or who promotes faster, knows they will have a higher pension then the one shown.
@Allied-Aircraft-WW2
Жыл бұрын
Mate. I’ve said it before but I’ll say it again what you are doing is bloody good and a real service to some. I’ve personally recommended your channel to many of my colleagues. Keep it going you are one of the best sources of info out there. I and many others owe you a pint
@thesavvysquaddie
Жыл бұрын
Cheers, appreciate the kind words and appreciation
@praladrai9615
3 ай бұрын
Count me in for the pint... I'll be more than happy to buy one for you pal. Really appreciate your work!
@DesperateDan3231
Жыл бұрын
A couple of things which really helped me & my colleagues: 1. Have to hand your promotion dates and salaries (easy to copy and paste what you were paid each year from JPA> My Information Views > Salary). 2. Enter the latest possible date you could reasonably serve for in the "Anticipated Leaving Date" on the first page (Age 60 for the RAF pers promoted to the higher ranks etc). This will allow you to scroll back and see which point is best to leave (i.e is that promotion / extention in service really worth it).
@thesavvysquaddie
Жыл бұрын
Ya, always good to have those on hand. Makes the whole process smoother.
@simonball5602
Жыл бұрын
Great breakdown of this complex subject. Many thanks.
@thesavvysquaddie
Жыл бұрын
No problem. Glad it helps.
@Lammys_Dram
Жыл бұрын
Very informative thanks. I've just used it and found straight away that the payrise we've all recently received hasn't been inputted in the calculator. What a waste of time if you want an accurate quote. I'm intrigued by the added contribution payment section as to avoid higher tax from joint income... this could be very useful in another video. Great work as always👏
@thesavvysquaddie
Жыл бұрын
I will be doing a video on that, hopefully, in the near future. A lot of people are curious about that.
@karenCahill-v8l
11 ай бұрын
Love this video but just want to check one of your elements - when talking about commutation you say that the calculator shows the “reduced deferred pension at SPA” (if you take the full commutation). I actually think that you need to take the “reduced deferred pension at SPA” and minus it from the “deferred pension at SPA” to give you the actual new figure. It is certainly not clear on the calculator results but I think I might be right on this point.
@adamsultan-petty
11 ай бұрын
Great explanation, really appreciated 👍🏼 Like one of the other reviewers stated it’s just frustrating that the current version of the calculator (version 2023 - 33.0.1) doesn’t include our latest Pay Award.
@thesavvysquaddie
11 ай бұрын
Thanks for the comment. I've heard that it should happen sometime this year, albeit time is running out, so fingers crossed it is updated soon to reflect the Pay Award.
@pujanrai5536
Жыл бұрын
Best video for soldier to understand complicated pension scheme to simplest form. For you who have Joined forces in Dec 2009 and End of service in Dec 2033 which is better Purple or Blue colour Scheme. According to your experience
@thesavvysquaddie
Жыл бұрын
Sorry, I can't answer that as it depends on so many different factors. The best bet is to go through the calculator yourself and see what results it churns out.
@Rob_Shak
Жыл бұрын
I will echo what others have said, you're doing a great service to all..beautifully simplified version of otherwise a very complex subject..I thought I knew stuff but these have further educated me, thanks a lot.. One quick question on early pension payment, following the above example - if he chooses the right box and early pension at 55, his AFPS pension increases. So where does he lose out then? Does his deferred pension at SPA is reduced to account for this early payment? Appreciate your opinion on this, it might just be something simple I am missing out. Thanks!
@deanboys2233
Жыл бұрын
Brilliant video - shared it with my Guys. Thank you 👌
@thesavvysquaddie
Жыл бұрын
Cheers, appreciate the support.
@digiclips3754
8 ай бұрын
Great video mate. I don’t think the new calculation is too accurate though when it factors in the additional 2015 payments. It shows mine as being far too much.
@thesavvysquaddie
8 ай бұрын
There is a mistake when it takes into account Added Pension in the final calculation. I believe that they are aware of this.
@digiclips3754
8 ай бұрын
@@thesavvysquaddie It was my mistake, I think I've figured it out, I was inputting the amount I'm paying into the added pension, but you need to input the amount you have actually been awarded as part for your final additional pension increase. The calculator doesn't explain it too well. Love your videos by the way, as an MPA I always refer people to your videos.
@Aubury.Spartacus-Jones
Жыл бұрын
Excellent presentation.
@thesavvysquaddie
Жыл бұрын
Thank you.
@KarlRhodes-v8u
Жыл бұрын
I’m MPGS and plan to leave when I’m 60, after a 17 year career. I have a full 75 pension from my previous life. This is an awesome video which I’ve shared around everyone (Reg and MPGS) however a lot of our MPGS guys are still a little confused on how it affects them. Any chance of you explaining for guys in our situation?
@thesavvysquaddie
Жыл бұрын
Are they confused about the affects of the McCloud Remedy or how to use the Calculator and its effects?
@gripperstebson
Жыл бұрын
Can you claim pensions from a previous life. I strongly believe in reincarnation 👍
@walkingmadman
Жыл бұрын
Another fantastic and informative video, breaking it down for us all. I'd love to know if the additional contributions are actually worth it? Or would we still be better investing in a SIPP/ISA.
@thesavvysquaddie
Жыл бұрын
Thanks and that is something I will be looking into soon and doing a video on.
@Grandude77
Ай бұрын
Oh snap! Jane must have been in my intake
@thereisnoplan
6 ай бұрын
You are a bl**dy genius. THANK YOU!!!!😊
@thesavvysquaddie
6 ай бұрын
You're most welcome.
@jamiewebb4439
8 ай бұрын
what about SP who have left and are eligible under the MCloud remedy but are now in FTRS posts (HC). how will the remedy affect us and what should we expect as far as payments or pension changes? My pension is abated and if my pension is increased as part f the remedy i will miss out. do i have the opportunity to take advantage of a payment and not pension increase?
@lionheartministrys3933
Жыл бұрын
Thanks for the video, you just saved me thousands of pounds and made my choice much easier. God bless ✝️
@thesavvysquaddie
Жыл бұрын
Glad to hear. Happy it helped
@lionheartministrys3933
Жыл бұрын
@@thesavvysquaddie Your welcome buddy. (Jesus is coming soon pass it on) 🙂
@belowthebeltboxing
Жыл бұрын
Thanks buddy
@thesavvysquaddie
Жыл бұрын
No dramas dude
@adamsultan-petty
11 ай бұрын
Apr 2023 Pay Award now captured on the Pension Calculator Version 2023 - 33.2.4 👍🏼
@thesavvysquaddie
11 ай бұрын
Thanks for the update
@BlackSuneEmpire
Ай бұрын
It's absolute fucking bollocks that you can't get a veterans calculation without paying a fee.
@precociousdeathdealer202
10 ай бұрын
UK ARMY PENSION IS SHOCKINGLY BAD COMPARED TO US ARMY. UK ARMY GET PATHETIC 34% EDP AFTER 20 YEARS OF ACTIVE DUTY SERVICE WHEREAS US ARMY GET FULL PENSION OF 50% THEIR FINAL SALARY AFTER 20 YEARS OF SERVICE.😂😂😂😂
@thereisnoplan
6 ай бұрын
Ye-es - but they don't get paid as well as us. So it's swings and roundabouts. And apparently, serving in the US Army forces you to spend your life SHOUTING IN CAPITALS. Which isn't great.
@ianherd569
10 ай бұрын
Yeah, yeah. I suspect that the guy is not a squaddie at all, may be not even a guy! All the positives are spouted about but there are lots to be said about the other side of the coin.
@thesavvysquaddie
10 ай бұрын
What makes you think I'm not serving? Whilst of course there are negatives and two sides to every coin, would you care to present some? Could provide some value to both me and other viewers.
@CHRISANDREOU4199
5 ай бұрын
Sorry mate, I'm not ethnic enough to fight for this country
@georgemorley1029
4 ай бұрын
That’s not how you spell “brave”.
@CHRISANDREOU4199
4 ай бұрын
@georgemorley1029 Fighting for this country wouldn't be brave. it would be suicide, If I lost, I lose , If I win I still lose
@karenCahill-v8l
11 ай бұрын
Love this video but just want to check one of your elements - when talking about commutation you say that the calculator shows the “reduced deferred pension at SPA” (if you take the full commutation). I actually think that you need to take the “reduced deferred pension at SPA” and minus it from the “deferred pension at SPA” to give you the actual new figure. It is certainly not clear on the calculator results but I think I might be right on this point.
@karenCahill-v8l
11 ай бұрын
Love this video but just want to check one of your elements - when talking about commutation you say that the calculator shows the “reduced deferred pension at SPA” (if you take the full commutation). I actually think that you need to take the “reduced deferred pension at SPA” and minus it from the “deferred pension at SPA” to give you the actual new figure. It is certainly not clear on the calculator results but I think I might be right on this point.
@thesavvysquaddie
11 ай бұрын
Thank you for your comment. After doing the math to double check, I can confirm that the amount that is stated in the 'reduced deferred pension at SPA' is the new amount of pension one will receive if they take full commutation. There is no need to subtract this from the original annual pension in 'deferred pension at SPA. However, your question sparked me to do the actual math and not rely on the calculator and in doing so, I may have stumbled across a potential issue with the calculator. I have reached out to DBS for clarification and hopefully will hear back soon from them with either "you're wrong and here's why" or a "yep, we'll fix that issue right away".
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