AFPS 75

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AFPS 75 - Commutation

Under AFPS 75 there are two forms of commutation: Resettlement Commutation and Life Commutation. Commutation means giving up part of your pension in return for a lump sum. It is not an automatic right; you have to apply for it. For more information see the document below. With effect from 1 April 1996 you cannot take advantage of both forms concurrently.

Note: Once the completed application forms have been forwarded to SPVA Pension Division, and they have been processed, the decision is final and cannot be reversed.

Impact of Finance Act 2004 on Commutation

The Finance Act 2004 (FA 2004), which came into force on 6 April 2006, stipulates that a member's pension may not be reduced from one year to the next except in exceptional prescribed circumstances. This Act, therefore, has some impact on your ability to commute your pension.

For more information click on the relevant links below:

 


Date: 6 Jan 06

Armed Forces Pensions Scheme 75 - Frequently Asked Questions

AFPS 75 - Frequently Asked Questions


Date: 7 Sep 06

Armed Forces Pensions Scheme (AFPS) 75 - Transferring out Pension Benefits

Members who leave AFPS 75 with a preserved pension have the option to transfer the value of this pension to another pension arrangement.  The amount transferred is known as the "transfer value" or "cash equivalent".

These factors should also be used in conjunction with the Adjustments in Market Conditions (AMC) table.

Please note there are different factor tables for males and females.


Date: 26 Jun 06

Armed Forces Pensions Scheme (AFPS) 75 Added Years post 6th Apr 2006

These factors are to be used for members of AFPS 75 to calculate the contribution rates for Added Years (AY) Additional Voluntary Contributions (AVCs) for contracts that begin on or after 6 April 2006. They should be used in conjunction with the relevant reduction factors.


Date: 24 May 06

Armed Forces Pensions Scheme (AFPS) 75 In Scheme Headroom on Pay AVCs

There are factors for members of AFPS 75 to calculate the contribution rates for headroom on pay Additional Voluntary Contributions (AVCs).


Date: 26 May 06

Armed Forces Pension Scheme 1975 Guidance booklets

Information on the Armed Forces Pension Scheme 1975 (AFPS 75) and General booklets that relate to all three pension schemes (AFPS 05, AFPS 75 and RFPS).


Date: 8 Jul 10

Armed Forces Pension Scheme 1975 Regulations

Armed Forces Pension Scheme 1975 Regulations


Date: 8 Jul 10

Find out about Preserved Pensions

Veterans who have served in the Armed Forces since 1975 and did not qualify for an immediate pension may be entitled to a Preserved Pension (PP). It is incumbent upon prospective pensioners to approach Service Personnel Veterans Agency(SPVA) to identify whether they are entitled to a PP.


Date: 14 Jul 09