Army pension

Phastasphuk do you have any children? Can you tell me the difference between resetlement grant and pension lump sum? From the little you have told us it sounds like you negotiated a fair settlement. I will be asking for half the pension and half the lump sum but no maitenance.

I am disappointed that spouses don't see any of the pension lump sum until age 65. I was hoping to get that money as a deposit on a house. It will be interesting to see if anyone applies for the pension at age 55 under the new rules and how that works out.

penny10p
i was hoping for the whole lump sum and a Clean Break order, but have been advised by sol that it will never happen, she says a judge would prefer to see a monthly maintence oder and a secure pension.......like you say i'd rather my own house and pay my own way ffffom there so i'm not beholden to him. The funny thing is hi what was agreed a few years ago before he got a gf......now it's just one big fight.

xx

I have 2 children both grown up so that was not am issue,
The lump sum a soldier gets at the end of his service is made up
of a ressetlement grant, the ammount is linked to his /hers pensionable rate and if he/she commutes, a lump sum advance of the
pension which means the ammount recieved up to the age of 55 is reduced.
I am not sure about the spouse getting a lump sum at 65 as well as the pension(share).
I think if a spouse wants a share of the lump sum it would form part of the marital pot and would be divided or offset.

The resettlement grant is just that....a grant, to be repaid. It is borrowed from the pension pot and paid back from the date the soldier leaves the force (usually 22 year point) and his 55th birthday.
The soldier can choose to commute a further figure and take this as a larger lump sum, thus reducing his monthly payments.
At age 55 the soldier will recieve his full pension.

I don't know why I am posting this as I myself am just about to be taken to the cleaners by another greedy stbx!
It was me dodging bullets, she just dodged the heating/credit card/loan repayment bills

Many thanks for your input jakeblues68. It is great to hear the soldier's point of view as well as the 'wife's'. I hope you manage to negotiate a fair settlement and I'm sure lots of us would like to hear about your situation if you feel like posting!
I have no desire to 'take my ex to the cleaners' and am just trying to find out how the whole pension thing works with the Forces so we find a solution that suits us both.

The whole idea of commuting part of the pension is something I'm going to think about. My ex will already get quite a substantial lump sum and as far as I can see, he could commute part of his pension to increase the lump sum thus allowing him to put a good deposit on a house. I on the other hand won't get anything until I am 65 (by which time I could be dead) and I will have to pay rent in the meantime because I have no capital for a deposit.

jakeblue68 your ressettlement grant doesn't get paid back
but whatever you commute does.