Armed forces pensioners hit by delay

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Members of the Armed Forces Pension Scheme (AFPS) have been underpaid by around £300 per year each.

Over 5,000 former service personnel who have retired since April 2010 have been affected by a mistake in calculations, the BBC reports. The Service Personnel and Veterans Agency (SPVA) said the problem will be fixed in the autumn and affected pensioners will be reimbursed. The majority of service personnel are part of the affected AFPS 75 scheme, which was open to new members from 1975 to 2005. Members had the right to leave the service after 22 years or 16 years if they were officers. They were allowed to take an early pension plus their tax free lump sum, and had the option of...

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