Change over to IPS

[combatbuddha]

I signed my IPS at the 17 year mark. Is this contract my new TOS effective the day I signed?
I have tried to read the documentation, and am confused as to how the new pension regulations will affect me. I can read tech manuals but not legaleese
If i get out at 21 years, am I grandfathered under the "old" system?

 

[krustyrl]

IPS clock does  not start ticking until your IE is completed.  Cannot be on two contracts at one time.

 

[PO2FinClk]

If i get out at 21 years, am I grandfathered under the "old" system?

With the new pension regulations in place (atop of the new TOS), I myself and not certain that you would in fact be grandfathered.

Contact your Release Section - they are the SME's on this subject.

 

[Roy Harding]

With the new pension regulations in place (atop of the new TOS), I myself and not certain that you would in fact be grandfathered.

Contact your Release Section - they are the SME's on this subject.

Good answer - I knew you'd be along sooner or later.  If YOU don't know, I sure as heck don't.

 

[Stokers_Rule]

When you get out you will be given the choice whether or not you want to be grandfathered, and depending on your own circumstances only you will know what's best.
The penalty for getting out one year into an IPS is large (5%/year not complete under 25), although your completed IE is grandfathered so your pension cannot drop below 40%.  Getting out before you finish the 25th year on an IPS isn't the best idea, imo.