Tuesday 28th February 2023
The Forces Pension Society applauds government commitment to Armed Forces pensions. Announcing to its membership the Government’s 10.1% increase in Armed Forces pensions in payment, the Society stressed the importance of pensions in the contract with those serving their country.
Maj Gen Neil Marshall, CEO of the Forces Pension Society, said:
“The Government has done the right thing by linking this pension increase to the Consumer Prices Index. It’s a decision we endorse entirely. For veterans and those serving, pensions represent a hugely significant element of their overall remuneration package. A decent pension provides a vital springboard for a second career outside the Services and, ultimately, the platform for a dignified retirement.
“From our vantage point on the representative bodies for Armed Forces and Public Services Pensions, we constantly remind those in positions of authority of the Armed Forces’ contribution to the defence of our nation and its values, and the role the pension plays in sustaining operational capability and retention.”
The Society also expressed its satisfaction with the award of 7% in line with Average Weekly Earnings applied to AFPS15 to increase (revalue) previous years of accrual for those still serving.
The Forces Pension Society recently announced record membership numbers of more than 65,000 and record numbers of Members’ pension enquiries dealt with by the experts in their Forces Pensions Consultants team.
Maj Gen Marshall added:
“It’s hugely gratifying to see such growth in our membership as more and more in the Serving community take an active interest in their Armed Forces pension for themselves and their families. Veterans too have increasingly come to appreciate the value of supporting the Society since issues such as the AFPS15 Remedy (McCloud) can have a significant impact on their retirement even after they’ve left.”
If you would like to find out more about the Forces Pension Society’s work and how guidance from its Forces Pensions Consultants might support you, visit www.forcespensionsociety.org