UK - A lobby group is attempting to block "harsh and unfair" changes to the unfunded Armed Forces Pension Scheme.
The Forces Pension Society – which has backing from Conservative MP Gerald Howarth to amend the proposals in the House of Commons next month – says soldiers will be left “poor” in retirement.
The new measures include a mandatory retirement age of 55 with a final salary accrual rate of 1/70th and preserved pension payable at 65, rather than 60, if a soldier has served for more than 20 years.
FPS pensions secretary David Marsh says this will make it impossible for members to accrue a sufficient pension pot.
He added: “We want the retirement age lowered and the accrual rate increased to 1/60th of final salary.”
He said the changes – which will be implemented from April 2005 for new entrants and no later than April 2007 for existing members – also include a “harsh” rule that will prevent the widow of a scheme member claiming any of his pension benefits if she remarries.
Howarth will attempt to table the amendments to the Bill when it goes into the committee stage next month. If unsuccessful he will try to block it in the House of Commons.
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