Don't forget to update your Armed Forces Pension Schemes

Category: News Publish date: 28/06/2017

The Armed Forces pension schemes are designed to reflect the special features of Service life, to provide a retirement income for you and your dependants, and to incentivise retention in service as a key part of your overall remuneration package.

If you are on Armed Forces Pension Scheme (AFPS) 05 or AFPS 15 and have completed a nomination form don’t forget to keep it up to date!

It is easy to complete an AFPS Form 2 to nominate one or more people or organisations to receive any lump sums due from your pension scheme should you die, but it is even easier to forget about it once you have done it.

The Forces Pension Society is currently involved in an appeal to the MOD because although the nomination is rendered invalid by divorce, it is not rendered invalid if the member gets married.

Sgt Hughes nominated a friend to receive his death in service lump sum, survived his operational tour, got married several years later and subsequently died in a car crash. His friend received the £120K death in service lump sum – not his wife, Charlotte, as he would undoubtedly have wished. The MOD are considering what can be done to avoid a spouse being in this position in the future; meanwhile, if you have made a nomination, keep it under review and change it as your wishes change.

If you are a Member of the Forces Pension Society and have a question about this or any other pension-related issue, email [email protected]. If you are not a Member but would like to know more about us, visit the Forces Pension Society website.