New "How well do you know your pension rights?" quiz

Test yourself with the Forces Pensions Society Quiz and see how you score.

Score 3 points for each correct answer.

Question 1 If you leave the Armed Forces before age 55 and are on AFPS05, what is the earliest age you can draw your Preserved Pension and Lump Sum?: 55
60
65
Question 2 There is a fixed penalty imposed on an AFPS05 dependant’s pension if the dependant is more than 12 years younger than the Serving person when they died. Is this reduction?: 2.5% for each year younger
3.5%
5%
Question 3 On AFPS05, what is the maximum number of years of a person’s qualifying service that can be used in calculating a dependant’s pension?: 35 and a half
37 and a third
39 and a quarter
Question 4 On Death in Service, where a spouse / partner’s pension is in payment, what is the maximum percentage of a person’s pension that can be used for the award of children’s pensions? On AFPS75, is it: 33.3%
50%
65%
Question 5 The same question as above but on AFPS05: Half of the difference between the percentage of the deceased’s dependant’s pension and 100%
A third
The whole of the difference
Question 6 From April 6th 2011 there is a reduction in the Annual Allowance (from £255,000 to £50,000). How does this affect someone’s lump sum on exiting the Armed Forces?: You lose relief on your terminal benefit over £50,000
It does not affect terminal benefits but Income Tax is payable on every £1 of pension pot increase above £50,000 in any given year
You will be taxed on every £1 above £50,000 on both your terminal benefits and the annual increase in your pension pot.

FORCES PENSION SOCIETY