Once amember becomes aveteran, there may still be pension lump sums due in the event of their death. For example, AFPS 05 awards apension and pension lump sum (worth three times the pension). If he or she leaves at age 55 or over,the lump sum is paid to the member but, if he or she leaves before that age with apreserved pension, and dies before drawing it, the pension lump sum is payable to the nominee(s). AFPS 15 awards apension (but no automatic lump sum) to those who serve until age 60. If they leave before age 60 the pension is deferred and, if the member dies before claiming it, alump sum of three times the pension is paid to the nominee(s).
AFPS Form 2isavailable on the internet. It is simple to complete and there is nothing to prevent the scheme member from replacing an old nomination form with a new one at any time.
In principle it is good that AFPS 05 and AFPS 15 members have avehicle for making their wishes known regarding who will receive what can be significant sums of
money.The message from this article is that, no matter how much of agood idea it is to express any wishes the member might have, if they do so, they must, must keep their nomination up to date.
If you areaMember of the Forces Pension Society and have questions on this or any other pension issue, contact us at pensionenquiries@
forpen.co.uk If you are not aMember but would like to know more about us, visit us at
forcespensionsociety.org
Mary Petley Photo ©AFPS
SPRING 2019
raf-ff.org.uk
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FORCES PENSION SOCIETY FINANCIAL
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