Select Committee on Defence Memoranda


APPENDIX 2

WITHDRAWAL OTHER RANK AFTER 8 YEARS (LOWER PAY SPINE)—SERGEANT

  Age at retirement = 27

  Service = 8 years


Category
Final
Pensionable
Salary
Representative
Rate


a) Near bottom (Level 2)
£23,520.60 £25,214.20
b) Middle (Level 4)£24,356.45 £25,214.20
c) Near top (Level 6)£25,298.15 £25,214.20



  Under both the proposed scheme and the existing scheme, the individual would be entitled to a deferred pension and lump sum payable from age 60.


Category
Pension Scheme Benefit Existing
Arrangements
Proposed
Arrangements


a) Near bottom (Level 2)
Deferred Pension (£ p.a.) £2,690£2,688
Spouse's Pension (£ p.a.) £1,345£1,344
Lump Sum (£)£8,071 £8,065
Capitalised Value of Benefits (to nearest £1,000) £15,000£15,000
b) Middle (Level 4)Deferred Pension (£ p.a.) £2,690£2,784
Spouse's Pension (£ p.a.) £1,345£1,392
Lump Sum (£)£8,071 £8,352
Capitalised Value of Benefits (to nearest £1,000) £15,000£15,000
c) Near top (Level 6)Deferred Pension (£ p.a.) £2,690£2,892
Spouse's Pension (£ p.a.) £1,345£1,446
Lump Sum (£)£8,071 £8,675
Capitalised Value of Benefits (to nearest £1,000) £15,000£16,000


WITHDRAWAL OTHER RANK AFTER 8 YEARS (HIGHER PAY SPINE)—SERGEANT

  Age at retirement = 27

  Service = 8 years


Category
Final
Pensionable
Salary
Representative
Rate


a) Near bottom (Level 2)
£25,663.15 £25,214.20
b) Middle (Level 4)£26,645.00 £25,214.20
c) Near top (Level 6)£27,681.60 £25,214.20



  Under both the proposed scheme and the existing scheme, the individual would be entitled to a deferred pension and lump sum payable from age 60.


Category
Pension Scheme Benefit Existing
Arrangements
Proposed
Arrangements


a) Near bottom (Level 2)
Deferred Pension (£ p.a.) £2,690£2,933
Spouse's Pension (£ p.a.) £1,345£1,467
Lump Sum (£)£8,071 £8,799
Capitalised Value of Benefits (to nearest £1,000) £15,000£16,000
b) Middle (Level 4)Deferred Pension (£ p.a.) £2,690£3,045
Spouse's Pension (£ p.a.) £1,345£1,523
Lump Sum (£)£8,071 £9,135
Capitalised Value of Benefits (to nearest £1,000) £15,000£17,000
c) Near top (Level 6)Deferred Pension (£ p.a.) £2,690£3,164
Spouse's Pension (£ p.a.) £1,345£1,582
Lump Sum (£)£8,071 £9,491
Capitalised Value of Benefits (to nearest £1,000) £15,000£18,000






 
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Prepared 14 March 2002