Question to the Ministry of Defence:

To ask the Secretary of State for Defence, whether his Department has made an estimate of the monetary value lost by members of the Armed Forces Pension Scheme who transferred pension benefits out of that scheme to non-defined benefit schemes prior to the public service pensions reforms of 2015 coming into force; and if he will make a statement.

The Ministry of Defence provides comprehensive, non-contributory pension schemes for the Armed Forces in recognition of their dedication and service. Prior to the public sector pension reforms of 2015 which prohibited Service personnel from making transfers to non-defined benefit schemes, Service personnel had the right to transfer their pension benefits to any HMRC registered scheme. Between 2010 and 2015, some 4,600 members of the Armed Forces Pension Schemes transferred their pension benefits to non-defined benefit schemes, such as other private or occupational pension schemes.

The total number of complaints received is not held in the format requested, as not all non-defined benefit schemes have resulted in a loss no estimate has been made of the potential monetary value lost to former members of the Armed Forces Pension Scheme.

The Department is not authorised to provide financial advice however copies of all transfer documentation are provided free of charge to those who believe they may have incurred a loss from the transfer of their benefits as a result of pension liberation or mis-selling.