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War Pension at 55

General chat about Military Finance, Pensions, etc.
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nigeats
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War Pension at 55

#1 Post by nigeats »

When someone leaves the Military after 22 yrs and more, they are in receipt of a pension obviously based on rank and length of service. If that person wishes to they can apply for a War Pension (or whatever the new fandangled name is now) and if successful they can also be in receipt of that pension as well. So lets suppose that someone has retired at 22 yrs service, is then in receipt of pension (and Gratuity), albeit taxed and at one rate of payment until 55 yrs of age when index link kicks in. If the person that is successful in claiming a War Pension gets above 20% for example then that pension is not taxed on that particular pension payment. If that is the case where someone can claim a war pension on top of their military pension then all well and good. But, can someone who has been medically discharged and in receipt of war pension, then at the age of 55 start claiming the other pension? It seems fair enough to me if this did apply but a little odd that the Govt can pay two pensions from the pot to one person one way but not the other way unless I am not aware of this. Anyone offer some advice and experience with this scenario?

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got1
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#2 Post by got1 »

Just receive a letter from the Service Personnel & Veterans Agency to say my Army pension which I received for 22 years in the Army is to be cut .

The reason they say is to "prevent two pension benefits being paid for the same period of service".

I have just started (June) to get my OAP pension on turning 65.

Additionally, employees who contributed to the Graduated Pension Scheme during the period 3 April 1961 to 5 April 1975 will have their Army pension reduced by the basic graduated pension earned by their graduated contributions. :(

timex
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#3 Post by timex »

Nige are you asking about leaving before pensionable service?

1. After 22 years, pension, gratuity and then War Pension all paid.

2. Leave Mil, not at pensionable age, claim War pension and then claim Mil pension at 55?

If 2, then I would think that your War pension is all you would be able to claim? I would suggest you ring the veterans Agency, they were very helpfull whenever I've used them.

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