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This Pension Is Worth More Than You Think!

This Pension Is Worth More Than You Think! Discover the jaw-dropping value of the Armed Forces Pension Scheme (AFPS). I debunk common pension myths and show how our military pension stacks up against civilian defined contribution schemes. Learn why our defined benefit pension, funded entirely by the MoD, is a rare gem that civilians would need a massive pension pot to match. We dive into annuity rates, the Early Departure Payment, and how to plan for a secure retirement using military benefits. Don’t miss this eye-opening comparison that proves our pension is a game-changer for financial planning. Support Me: Buy Me A Coffee - https://www.buymeacoffee.com/thesavvy... Referral Links: Octopus Energy (£50 sign up bonus) - https://share.octopus.energy/sunny-mu... TopCashBack (£10 sign up bonus) – https://www.topcashback.co.uk/ref/ceden Audible (30 day free trial) – https://www.amazon.co.uk/Audible-Free... Investment Brokers I Use: Trading212 – https://www.trading212.com/invite/11P... Vanguard – https://www.vanguardinvestor.co.uk/ Etoro – https://etoro.tw/43KiPg3 Links: Armed Forces Pension Calculator Explained –    • Have You Used The New Armed Forces Pension...   Early Departure Payment Explained –    • Ignoring This Could Cost You Thousands - E...   Timecodes: 0:00 Intro 1:27 Difference between a defined benefit and defined contribution pension scheme 4:13 Creating an income from a defined contribution pension scheme 5:12 My 2 questions 5:31 How annuities are calculated 7:32 My Armed Forces Pension forecast 8:11 How big my civilian pension pot needs to be 9:22 How much would I need to contribute per month 10:52 The employer and employee pension contribution split 12:02 The impact of pension scheme fees 13:19 What about drawing a tax-free lump sum (commutation)? 14:30 Including the Early Departure Payment (EDP) 17:29 The numbers summarised 18:03 Final thoughts 21:06 Outro Sources: https://www.sharingpensions.co.uk/ann... https://www.hl.co.uk/retirement/annui... https://www.fool.co.uk/personal-finan... https://www.legalandgeneral.com/retir... https://www.legalandgeneral.com/retir... https://www.legalandgeneral.com/retir... https://www.legalandgeneral.com/retir... https://www.ons.gov.uk/peoplepopulati... https://moneyweek.com/personal-financ... https://www.statista.com/statistics/6... https://www.ppf.co.uk/Purple-Book https://www.ppf.co.uk/-/media/PPF-Web... https://commonslibrary.parliament.uk/... DISCLAIMER: The views and opinions expressed in this video are my own and do not necessarily reflect the views of the British Army or the Ministry of Defence. I am not a professional financial advisor and this video is not financial advice. Please do your own research before making any decisions with your money and seek professional financial advice if need be.