| Component | Value |
|---|
Your service represents the calculated percentage toward maximum benefits (Reference: AFPS scheme rules).
Key eligibility rules:
AFPS 75 (1975 Scheme): Final salary scheme for service before 6 April 2005. Accrual based on representative pay for rank; full career pension 48.5% of pay after 34/37 years. Lump sum 3x pension. Index-linked post-55.
AFPS 05 (2005 Scheme): Final salary for 2005-2015 joiners. 1/70th accrual rate. Lump sum 3x pension. Immediate from 55; CPI increases.
AFPS 15 (2015 Scheme): Career Average Revalued Earnings (CARE). 1/47th per year, revalued by AWE. No automatic lump sum (optional commute up to 25%). Immediate from 60; CPI in payment.
Key Impacts: All schemes are unfunded, defined benefit, no member contributions. Over 300,000 veterans receive AFPS pensions annually. 2025 indexation: CPI-based, with AFPS15 revaluation at 4.5% AWE.
Eligibility: Minimum 2 years qualifying service. Ill-health and death benefits available.
Current Status: Schemes protected; McCloud remedy ongoing for 2015 transition. Use official forecasts for precision.
Request an official forecast with GOV.UK AFPC.
Review scheme guides on GOV.UK Veterans.
Estimates based on official AFPS rules: 1/70 accrual (05), 1/47 (15), 48.5% full career (75). Assumes no revaluation/commutation for simplicity.
This is an estimate; actual benefits may vary with revaluation, ill-health, or death provisions. Consult DBS Veterans UK for official forecast.