If You Have A Military Pension You Might Want To Read This

Pensions, everyone needs one but not everyone knows how important they are or how they will benefit.

To mark Pension Awareness Day, Veterans’ Gateway joined forces with its expert referral partner, Forces Pension Society, to issue five key facts that all veterans should know about their forces pension.

Neil Brogan, 47, an ex-Sapper who served for nine years including tours in Northern Ireland, Belize and the Falklands, wasn't aware of his forces pension rights until coming into contact with the Forces Pension Society through Veterans’ Gateway.

After an initial consultation Neil discovered he was eligible for a lump-sum pension of £7,000 on his 60th birthday followed by annual payments of £2,300. Neil said:

“We had some lectures on pensions before I retired from service but, frankly they were difficult to understand. I’m sure there are others in my position.”

1. If you leave the forces early you must claim your pension yourself. You should claim 3-6 months before you reach the pension age for your scheme. It will not happen automatically. So make sure you remember and when the time comes get in touch with Veterans UK.

2. If you have an injury or illness which is caused by something that happened when you were serving you might qualify for a disability award – this is true even if the injury or illness started after you had retired.

3. If you are getting divorced the arrangements for sharing your pension can be very complicated. You must get legal advice.

4. If you are still serving it can make sense to buy extra pension - this can give you more money in the long run, and the sooner you start to think about this the better.

5. The timing of your retirement can make a difference to the pension you get – it is good to take advice about this.

The transition from military to civilian life comes with a whole series of challenges.

Veterans' Gateway is a service which aims to connects users with the right organisation that can help on a range of issues including housing, finance, mental health and employment.

For some of the UK’s approximately 2.5 million Armed Forces veterans help and support from charities is essential in getting their lives back on track.

However, with more than 2000 military focused charities out there, 54% of veterans were left confused as to which one is right for them.

That's where the new Veterans' Gateway comes in.

To contact Veterans’ Gateway Call: 0808 802 1212 Text: 81212 or visit: www.veteransgateway.org.uk

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