There are currently three Armed Forces Pension Schemes for members of the military:
This scheme was introduced in 1975 and closed to new entrants on 5 April 2005.
This scheme was opened on 06 April 2005. From that date those joining the Regular Armed Forces were eligible to become members of the Armed Forces Pension Scheme 2005. Members od AFPS 75 were given the opportunity to transfer to the new scheme (this offer is now expired).
Also introduced on 06 April 2005 for those joining Full Time Reserve Service was RFPS eligible for membership of the Reserve Forces Pension Scheme. Members of AFPS 75-FTRS (Full Time Reserve Scheme) were given the opportunity to transfer to RFPS from this date.
The new Armed Forces Pension Scheme was introduced on 1 April 2015. All service personnel who are members of an Armed Forces Pension Scheme and who will be serving beyond April 2015 will be automatically transferred to AFPS 15, unless they qualify for transitional protection.
This pensions calculator lets you work out your Armed Forces pension.
MoneyForce have also produced an Armed Forces pension calculator, which you can find here.
Forces Pension Society
Forces Pension Society can help you through the understanding your pension and campaign against injustices in the system as they did when winning the right of all widows to retain their pension on remarriage. They also sit on the MoD Pensions Board and on the Public Sector Pensioners Council representing Armed Forces personnel’s interests.