The Ministry of Defence has asked us to circulate the following significant announcement. It concerns the introduction of the new Armed Forces pension calculator in support of implementing the AFPS15 remedy:
‘The enhanced Armed Forces Pension calculator will be live on 1 August 2023. The calculator will provide Serving Personnel with an illustration of their pension entitlement and, for those who are in-scope for the 2015 Remedy, a side-by-side comparison of their reformed and legacy scheme benefits. The calculator also includes several business-as-usual enhancements such expanding the scope to incorporate previously excluded personnel, meaning more members than ever will be able to gain an indication of their pension benefits.
A video providing a brief explanation of the calculator and its functionality has now been published on YouTube here. You can also find a playlist of videos explaining the 2015 Remedy and the Armed Forces Pension Scheme 2015 (AFPS 15) on the MOD YouTube account.
Please note, the calculator is for illustrative purposes only and should not be used as financial advice or for retirement planning. If you are due to retire before 1 October 2023, you should plan to do so based on your current benefits, even if you are in-scope for the 2015 Remedy. Those who wish to seek financial advice on their pension should contact an independent advisor. Personnel who are in-scope for the 2015 Remedy and are due to leave immediately after 1 October 2023 will receive further communications in due course.
For more information on the 2015 remedy, please visit the 2015 Remedy page on Defence Connect Page, Defnet and GOV.UK. If you have any general queries, please contact firstname.lastname@example.org. Please note, this should not be used to ask for financial advice, to request access to personal information or for pension forecasts as we are unable to provide that detail.’