An Advance On Your Gratuity - Can It Be Done?

Discussion in 'Army Pay, Claims & JPA' started by Berlin_104s, Aug 9, 2010.

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  1. Evening All.

    I am on VEng and will reach my 22 year point in April 2011. Is there any mechanism by which I can receive an advance of a portion of my gratuity? This might seem an odd question but it is for a genuine reason and I'm just wondering if it can be done.

    Many thanks in advance

  2. No because you can die at your 21 year 364 day point.
  3. Have you taken LSAP? may be a bit late in the day to ask about that as an option?
  4. I thought there was provision for advanced money towards house purchase, certainly was when i was in 1992
  5. only if you are a member of parliment.
  6. No, the maximum you will get from the Army is LSAP (£8500), but obviously that is for buying a house. The biggest advance you can get from the Army for no reason (as such) is 7 days pay as a CO's Cash Advance. Obviously the CO would want to know why you want it though !!

    Possibly a bank would loan you in lieu of your Gratuity but I doubt it
  7. Yes it can be done if your an Officer or Warrant Officer through Holts Bank..............I think it's Holts, still a bit pissed from last night, your FSA/Regt Acct may know the details.
    They have been doing Gratuity loans for some time now, basically you pay back the interest monthly until you get your lump sum then pay it off. Just give them a call
  8. are you still pissed ? Anyone can ask their bank for a loan but there is no guarantee you will get it. If you have not done 12 years you do mot get a gratuity, if you have between 12-22 years you get a resettlement grant (not much) and only when you get to your 22 point (under 75 scheme) do you get a pension with the associated lump sum. If this bloke has yet to complete his 22 they will not entertain him so stop filling his head full of bollox and get back to your Jack Daniels because you know **** all about the subject.
  9. FFS-RTFQ. Berlin is a soldier who is yet to complete a pensionable term, 22 years. Your answer is for an officer who (under AFPS 75) will have completed a pensionable term at his 16 year point.
    No bank will give an advance until the service person has reached (& earned) their pension point, that is the way it is. Easy.
  10. I get sick of people coming onto the ARSSE spreading gossip and rumour on financial matters because it is 'what a mate told them' which is, like your post, normally wrong.

    You missed the CRITICAL point - people must have completed a pensionable term to get this from any bank.

    I know **** all about Trident missiles which is why I do not give any opinion on them. Don't talk shit on here because, unless you DO explain the criteria or you will confuse people and falsely raise expectations.

    Berlin wanted an answer - not inappropriate advice.
  11. Yawn, Berlin asked the question, you answered soneone else's criteria without explaining to Berlin that what you were saying did not apply to him. Customers need straight answers to simple questions - that is what Berlin wanted. I am not surprised that your 'mate' gave you advice because you have given a perfect example of how the current financial crisis arose from greedy bankers - he wants to sell sothething that Berlin does not qualify for (and no other serviceperson does before they reach a pensionable term) but neverthe less you are promoting it because you trust your mate though have have no financial credibility youself. Did your mate once work for Bradford & Binggley or Northern Rock ? Go away and stop confirming your financial ignorance. Berlin - you are not entiled to an advance in your current circumstances and will not get it from any bank; take it from me and not this buffoon.
  12. vauxhall

    vauxhall Sponsor

    There is nothing in the scheme rules that allows a gratuity to be paid while you are still in service. SPVA can only do what the rule book permits.
  13. Gents,

    Many thanks for the advice and I apologise for the late response.

    I hope I didn't cause too much upset!


  14. I think you may be an officer....sadly evident by your post. Next time your platoon ask for advice direct them to someone who knows what they are talking about - you don't. Now go for a run, have a shower and lie down and live it down.