MoD considers pension changes
The Ministry of Defence (MoD) is considering changes to its early departure payment scheme, the Daily Telegraph reports. Army, Navy and RAF personnel can currently start claiming their pensions from the age 40. Under the new plan, members of staff would have to work until the age of 45 before being able to claim the payment. The proposals, which would only affect new recruits, are part of the ministry’s review of employment conditions that follows the 2010 Strategic Defence and Security Review. An MoD spokesman said: “All public sector workers are facing changes to their pensions and the military are not immune from these changes. “The MoD is consulting with service personnel over future pension changes, which are likely to include an adjustment to the amount of service required to become eligible for an early departure payment. “The earliest this can be drawn by anyone joining the Armed Forces today is 40 and the MoD is considering whether this could be extended to 45. No final decisions have been made.”