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have to contribute NICs for at least ten years in order to qualify for some level of State Pension. Interestingly, before the qualification was reduced to 30 years from an original 44 years for men and 39 years for women in 2010, there used to be an eleven year ‘vesting period’, and at that introductory point, the portion of Basic State Pension payable was 25% of the full value – it will be interesting to see where the Government pitches the starting percentage this time.

Deferment of receipt of the State Pension will continue to be allowed. However, there will be no choice of receipt after deferment as there is today. Currently, after deferring to draw your State Pension for at least 12 months you have the choice of taking what you deferred either as a taxable lump sum or as additional income. From Apr 17 if you defer drawing your State Pension you will only be permitted to draw additional income as a reward – the option of taking a lump sum is removed. At the moment, an individual’s State Pension is increased by a further 1% for every five weeks of deferral (10.4% for a full year), but the White Paper declines to state what

the new award will be, indicating that it will probably not be as generous as the current percentage increase.

Finally, and potentially most importantly for the Armed Forces in regards to the new AFPS15 pension scheme, the White Paper states that it is the Government’s intention to review the State Pension age every five years following the introduction of this new State Pension system. The logic for this is quite understandable – it is to ensure continued viability of the revised scheme on a basis of life expectancy. But

remember: the Preserved Pensions payable under the new AFPS15 pension scheme are destined to be paid at an individual’s State Pension age. This would mean that it is quite possible for somebody to leave the Armed Forces in 2020 at age 40 with Preserved Pension entitlement under AFPS15 payable at, say, age 68, only to discover that every five years thereafter they see their State Pension age creep out by a further year, so that they do not receive either their State Pension, or AFPS15 Preserved Pension, until age 74. This could be the sting in the tail!

If you have any questions about your own military pension, you can call the Forces Pension Society on 020 7820 9988 for a rapid and accurate answer, assuming of course you are a member of the Society. If you are not a member, the fee to join is modest and benefits include an expert help line, numerous discounts on a range of useful products and services and the assurance that a dedicated organisation, independent of the Government, is championing the pension interests of the Forces and their families. For more information, please go to

Health The

Insurance Group

U.K. & International Healthcare Specialists



Bupa has teamed up with The Health Insurance Group and the Forces Pension Society to offer serving and retired members of the forces and their families dental insurance at special rates.

For further information call your Bupa Helpline on: 0845 606 0799† (option 2) or visit

Bupa. Helping You Find Healthy

†Calls may be recorded and may be monitored. *Price is based on Bupa’s Core level of cover. The rate is available until 01/07/2013. Bupa Dental insurance is subject to terms and conditions including exclusions and restrictions. Membership guide available upon request. If you purchase on-line or on the telephone Bupa Dental Services is arranged by Bupa Insurance Services Limited. Registered in England and Wales No 3829851. Authorised and regulated by the Financial Services Authority. In all other circumstances Bupa Dental Insurance is arranged by The Health Insurance Group. The Health Insurance Group is a trading name for Independent Sales Force Solutions Limited. The Independent Sales Force Solutions Ltd is authorised and regulated by the Financial Services Authority FRN 308189. Bupa Dental Insurance is provided by Bupa Insurance Limited. Registered in England and Wales No. 3956433, authorised and regulated by the Financial Services Authority. Registered office of Bupa Insurance Limited and Bupa Insurance Services Limited: Bupa House, 15-19 Bloomsbury way, London WC1A 2BA.

Envoy Spring 2013






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