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| Name | Armed Forces Pension Schemes For Squaddies |
| Video Uploader | Video From The Savvy Squaddie |
| Upload Date | This Video Uploaded At 29-12-2021 10:51:40 |
| Video Discription | Armed Forces Pension Schemes For Squaddies In this video, I explain the armed forces pension schemes (AFPS). I go over the AFPS 75, the AFPS 05 and the AFPS 15. I also talk about the McCloud case and it’s remedy and who it affects as well as, how each pension scheme is calculated and when you can claim it. This video is absolutely packed with information about the Armed Forces Pension Schemes but I can’t cover every aspect of them. Below are the links to the sources I used for this video and they will have more information about more specific factors with regards to the pension schemes. Need Professional Advice: Forces Pension Society - https://forcespensionsociety.org/ Veterans’ Gateway - https://www.veteransgateway.org.uk/ Veterans UK - https://www.gov.uk/government/organisations/veterans-uk Gov Website - https://www.gov.uk/guidance/pensions-and-compensation-for-veterans Timestamps: 0:00 Intro 0:12 Disclaimer 0:40 What is a pension? 0:50 State pension and workplace pension 1:23 How do workplace pensions work? 1:53 How to know which armed forces pension scheme you are apart of? 2:49 Armed forces pension scheme transitional protection 3:06 McCloud pension case remedy 4:23 How is the AFPS 15 calculated? Career Average Revalued Earnings (CARE) explained 5:12 How is the AFPS 05 calculated? 5:27 How is the AFPS 75 calculated? 5:48 Is my time on the other armed forces pension schemes protected? 6:10 When can you claim the armed forces pension scheme 15? 6:38 What is a deferred pension? 6:57 Claiming the armed forces pension scheme 15 at the age of 55 7:07 What is the EDP or Early Departure Payment Scheme? 7:35 EDP eligibility criteria for the armed forces pension scheme 15 8:25 What will you receive with early departure payment on the AFPS 15? 8:40 What is inverse commutation? 9:02 AFPS 15 Resettlement Grant 10:00 What is commutation? 10:42 When can you claim the armed forces pension scheme 05? 11:25 EDP eligibility criteria for the armed forces pension scheme 05 12:31 When can you claim the armed forces pension scheme 75? 13:31 Deferred pension on the AFPS 75 14:15 AFPS 75 Resettlement Grant 14:39 Can the armed forces pay into their pension? 14:56 Added Pension AFPS 15 15:58 Added Years AFPS 05 and AFPS75 16:24 Other factors to do with the AFPS 16:55 Why the AFPS 15 is a good pension scheme 18:33 Earning extra money for retirement 19:12 Final Thoughts 20:15 Outro Links: Pension Calculator For Squaddies: https://youtu.be/iR97xBpN9GY Using A Military Career To Achieve Financial Freedom: https://youtu.be/O3Z4KKw7IUc Armed Forces Pension Calculator: https://mod-pc.co.uk/ Added Pension Quote Request Form: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/926272/AFPS_Form_6.pdf McCloud Remedy: file:///Users/cam/Downloads/McCloud%20Remedy%20Final_Leaflet.pdf Sources: AFPS 75 https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/911030/FINAL_DRAFT_-_AFPS_75_Your_Scheme_Explained.pdf AFPS 05: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/911026/FINAL_DRAFT_-_AFPS_05_Your_Scheme_Explained.pdf https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/341323/01_JSP764_Part1_July14_amd6.pdf AFPS 15: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/926986/15.10.2020_JSP_905_Part_1_V2.0_Aug_2020_-_CB_Final.pdf https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/911031/FINAL_DRAFT_-_AFPS_15_Your_Scheme_Explained.pdf McCloud: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1004636/McCloud_Update_-_July_2021.pdf Resettlement Grant: https://forcespensionsociety.org/2021/06/leaving-with-a-resettlement-grant/ Pension Survey: https://www.finder.com/uk/pension-statistics Other Webpages: https://forcespensionsociety.org/pensions/ https://www.ii.co.uk/analysis-commentary/lowdown-armed-forces-pensions-ii512666 https://support.veteransgateway.org.uk/app/answers/detail/a_id/381/~/armed-forces-pension-schemes file:///Users/cam/Downloads/Transition%20Information%20Sheet%2011%20-%20Pensions.pdf https://forcespensionsociety.org/2019/11/how-good-is-your-pension/ DISCLAIMER: I am not a professional financial advisor and this video is not financial advice. Please do your own research before making any decisions with your money and seek professional financial advice if need be. Ldm5Wml5x30 |
| Category | Education |
| Tags | armed forces pension scheme | AFPS 75 | AFPS 05 | AFPS 15 | pensions | armed forces | pensions explained | early departure payment scheme | resettlement grant | retirement | public service pensions | McCloud remedy | tax free lump sum | added pension | added years | how pensions work | military pension explained | is the military pension any good | british army | royal navy | royal air force | financial security | personal finance | pension what to expect | financial literacy | ministry of defence |
