Forces Pension Society Neil Marshall

Tuesday 28th May 2024

The latest Armed Forces Continuous Attitude Study shows well under half (38%) of all those who responded (more than 9,000) expressed satisfaction with their pension.

Compared with the 2023 results, there has been a decrease in satisfaction across the board, with over a third of respondents now claiming to be dissatisfied. This shows there remains a lack of understanding of the real value of Armed Forces pensions.

Armed Forces pension value

The reality is that at today’s values, a pension income of £20,000 would require a pension pot in the private sector, of at least £400,000. Plus an Armed Forces pension is inflation-proofed and unaffected by stock market fluctuations. We can also fairly claim our pensions are among the best in the public sector.

The Forces Pension Society has long been advocating a better understanding of what Armed Forces Pensions offer, in order that those serving may make informed decisions about how to get the most from them , including choosing the best time to leave. A good pension is, after all, the springboard for a second career in the private sector and the basis for a dignified retirement thereafter. Either way, it has critical importance in providing a secure foundation for the future.

Help understanding the complexities

Armed Forces Pensions are complex and that’s why one of the key aims of the Society is to provide clear, pension guidance to our Members, explaining the benefits of their Armed Forces Pension. To this end, in addition to having access to our expert Forces Pensions Consultants, Members receive webinars, e-newsletters and our magazine, Pennant.

Membership of the Forces Pension Society is now more than 66,000, and last year, our Forces Pensions Consultants dealt with more than 20,000 pension enquiries from Members.

Maj Gen Neil Marshall, CEO of the Forces Pension Society said:

“One of our core aims at the Society is to help facilitate a greater understanding of the real value of Armed Forces pensions. This latest AFCAS survey shows we still have work to do, in conjunction with the Services themselves, to communicate the value of Forces pensions and, in the process, encourage greater retention.

“Many in the Armed Forces underestimate their true worth and don’t realise that AFPS15 is one of the best public sector schemes there is. By joining the Society, our Members gain a greater understanding of the real value of their pension and how to make better choices as their careers progress. This is especially vital when considering the best time to leave.”

Who are the Forces Pension Society?

The Forces Pension Society is an independent, not-for-profit organisation that serves as a watchdog for the whole military community. If you would like to know more about our work and how we can help you make the most of your pension worth, with individual guidance, visit


FPS Logo with the banner, 'Helping you make better choices' as a tag line underneath.

Back to news Subscribe to eBulletin