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AFPS Preserved Pension Application (Form 8) Early Payment of Preserved Pension benefits covers: those who have a preserved pension and lump sum entitlement not payable until age 60/65/State Pension Age and. those in receipt of an immediate pension who have preserved pension increases payable from age 55.
At age 55 the income is increased to 75% of the value of the preserved pension and CPI increases are applied. The EDP income continues until age 65. Because the pension and EDP come from separate schemes and individual is permitted to draw his pension early and have it paid at the same time as his EDP.
Armed Forces Pension Scheme 1975 (AFPS 75): Closed to new entrants on 5 April 2005. Paid service after age 18, for other ranks, counts towards pension (21 for officers). Claim at age 60 for benefits earned up to and including 5 April 2006, and age 65, for earnings after that date.
The Armed Forces Parliamentary Scheme (AFPS) offers Members of Parliament and Peers experience of the United Kingdoms armed forces.
For service on or after 31 March 1973, your widow will receive a pension of one half of your basic pension (for widowers and civil partners you must have been in service on or after 1 Oct 1987).
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Index-linking Preserved pensions are index-linked using prices since the date of leaving the service. For AFPS 75 members the Immediate Pension (IP) is not index-linked until age 55. For AFPS 05 members Early Departure Payments (EDP) are not index-linked until age 55.
For AFPS 75, the pension is calculated as a percentage of your final pensionable pay, based on your length of service. The maximum pension you can receive is up to 48.5% of your final pensionable pay, plus a tax-free lump sum of three times your annual pension.
The enhanced Armed Forces Pension calculator went live on 1 August 2023. The calculator will provide Serving Personnel with an illustration of their pension entitlement and, for those who are in-scope for the 2015 Remedy, a side-by-side comparison of their reformed and legacy scheme benefits.

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