Asked by: Lord Touhig (Labour - Life peer)
Question to the Ministry of Defence:
To ask His Majesty's Government whether there is a time limit within which former Armed Forces personnel can transfer their service pension to a new pensions provider.
Answered by Earl of Minto - Minister of State (Ministry of Defence)
Armed Forces Pension Scheme (AFPS) benefits can be transferred out up until 12 months before the date the member reaches pension benefit age.
If a member wishes to transfer their AFPS benefits into another Public Sector scheme, this must be done within 12 months of them joining the new Public Sector Scheme.
Both the Pension Schemes Act 2015 and the Taxation of Pensions Act 2014 stipulates the rule that prevents transfers from unfunded public service defined benefit schemes (such as the AFPS) to funded defined contribution schemes in the UK or abroad.
Once an AFPS pension is in payment, this cannot be transferred out.
Asked by: Lord Touhig (Labour - Life peer)
Question to the Ministry of Defence:
To ask His Majesty's Government in what format Armed Forces personnel receive advice about their pensions when they leave the services.
Answered by Earl of Minto - Minister of State (Ministry of Defence)
The single Services provide holistic support to their respective leavers and signpost to the services available to them. Although individual units may have their own bespoke processes, the Tri Service Resettlement policy (JSP 534) available at the link below explains the minimum level of support.
www.gov.uk/government/publications/tri-service-resettlement-manual-jsp-534
All Service leavers are given the opportunity to attend a Financial Aspects of Resettlement Brief by the Forces Pension Society. Briefs can be attended at any point in a Service person's career, however priority is given to Service leavers with nine months or less to discharge. Briefings are tailored, where numbers permit, to different rank groups, and spouses are welcome to attend.
All Service leavers are issued a Service Leavers' Guide designed to provide help and advise on a range of topics to assist with planning the transition to civilian life, and contains pension information and signposting. This was last reviewed in September 2023 and can be found at the following link:
https://assets.publishing.service.gov.uk/media/651c1168e4e658000d59d888/Service_Leavers_Guide_-_Sep_23.pdf
On discharge, Service leavers also receive a letter from the Joint Personnel Administration Centre (JPAC) detailing their pension entitlement and when this will be paid.
Further information and guidance relating to the Armed Forces Pension Scheme (AFPS) is readily available on gov.uk at the following link:
www.gov.uk/guidance/pensions-and-compensation-for-veterans
The Armed Forces Pension Calculator can be accessed at the following link:
https://www.gov.uk/armed-forces-pension-calculator