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The Armed Forces Early Departure Payments Scheme Regulations 2014
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- UK Statutory Instruments
- 2014 No. 2328
- PART 2
- Regulation 10
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Amount of early departure payments
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10.—(1) The annual amount of the periodical payments payable to an eligible person is the sum of—
(a)the basic amount; and
(b)the additional service allowance.
(2) The basic amount is an amount equal to 34% of the provisional annual amount of the person’s deferred pension under the AFPS 14 at the point of exit had the person been a member of that scheme for the whole of their period of qualifying service (whether or not that is the case).
(3) The additional service allowance is an amount equal to 0.85% of the provisional amount of the person’s deferred pension under the AFPS 14 for every full year served as a member of the regular forces beyond the 20 year service and age 40 qualification point at the cessation of membership of the regular forces, had the person been a member of the AFPS 14 for the whole of their period of qualifying service.
(4) The amount of the lump sum is the provisional amount of the member’s deferred pension under the AFPS 14 at the point of cessation of the member’s service in the regular forces multiplied by 2.25, or would have been if they had been a member of the AFPS 14 for the whole of their period of qualifying service (whether or not that is the case).
(5) In the case of a person who would be an excluded person for the purposes of regulation 8(eligibility for early departure payments), apart from the Secretary of State agreeing as mentioned in regulation 8, the amounts of the payments under this regulation are to be reduced by such amount as the scheme manager considers appropriate, after consultation with the scheme actuary.
(6) In the case of a person who has not been a member of the AFPS 14 for the whole of their period of qualifying service, the amount of the periodical payments or lump sum to which the person would have been entitled had the person been such a member for that period, is to be such amount as the scheme manager considers appropriate after consultation with the scheme actuary.
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