The Armed Forces Pension Scheme has three main flavours — AFPS 75, AFPS 05, and AFPS 15 — each reflecting the rules in force when you joined. AFPS is unusual among public sector schemes for accepting that service is often interrupted, and for the way it interacts with the Early Departure Payment (EDP) scheme for those leaving before reaching pension age.
What we’ll cover
Plain-English explainers for this scheme are being written. They’ll cover:
- How your pension is calculated, with worked examples
- Contribution rates and how they’re banded
- Normal pension age, early retirement, and ill-health benefits
- Additional voluntary contributions (AVCs) and added pension
- Lump-sum commutation — when it makes sense and when it doesn’t
- Survivor benefits and what your family inherits
- The McCloud remedy decision: what it means for you, scheme by scheme
Information, not advice. This article describes the general rules of the scheme. It is not regulated financial advice and does not take account of your personal circumstances. Pension decisions can have lifetime consequences, so consider speaking to a regulated financial adviser or to MoneyHelper before making one. Pension Plain is not authorised or regulated by the FCA.