WIREDGOV

Armed Forces personnel will continue to receive one of the best and most valuable public service pensions under a new scheme announced yesterday.

In July, the Ministry of Defence published an outline design of the new Armed Forces Pension Scheme and invited further comments. The consultation has resulted in a key change - Service personnel will now have more flexibility over the money they receive if they qualify for an early payment at age 40. This is another benefit exclusive to Service personnel.

The new scheme means that, unlike other public service pension schemes, Service personnel will still not have to make personal contributions and the Normal Pension Age will be 60, whereas for most other public service pensions the Normal Pension Age will be linked to the State Pension Age, which is considerably higher.

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