War Pension at 55
Posted: Mon 04 Jun, 2007 10:38 am
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?