How is pension now calculated

[dunposting]

Now aged 59 after 25 years in rm, how is my fsp calculated?

[k979aaa]

Now aged 59 after 25 years in rm, how is my fsp calculated?

Different schemes for all mine is differnet to yours if you need to know the pensions helpline on the back of your pay slip 0114 241 4545 may help you!.

[baldrick]

You should be getting your Annual Pension statement within the next few weeks
which will tell you exactly how much you will get. They are usually sent out around
the end of July, or beginning of August.

[belle smith]

Now aged 59 after 25 years in rm, how is my fsp calculated?

not 100% on this but i belive that it's an average of your last 3 years earnings.

[baldrick]

It's now based on the best year out of the last three years of service.
It's difficult to give an exact amount, as the new CARE element kicked in from April 2008
but assuming you were in POSS (pre 1985 I think), with 25 years service, your fsp should be
around 27-29% of your pensionable pay, and your lump sum would be 3x the annual pension.

If you've still got last year's Annual Pension statement, that will give you a forecast, which
will still be more or less accurate (increased by 1.5%) as we only got 1.5% pay increase last
year and nothing this year.