MOD benefit adds up

The Ministry of Defence has launched an online pension calculator to help personnel decide whether to remain in the existing scheme or to move to the new Armed Forces pension scheme.

The scheme was closed this year, but the 200,000 personnel in that scheme can transfer to the new scheme next year.

To complement the information, thomsons online benefits designed a calculator to compare the benefits of both schemes.

It can provide information based on future rank, pay rate and leaving date and has been accessed more than 180,000 times in the first four months.

© Employee Rewards & Benefits - November 2005