Continuance Y/N

Discussion in 'REME' started by SuperWhiteArmy, Jan 16, 2006.

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  1. Rumour has it we are 800 down within the ranks. Therefore continuation is the buzz word at Glasgow. 14 months to do!
    Any thoughts?
  2. Continuance getifuk not this C/S

    AFPS 2005 pokeitupyerhoop
  3. MCM Div are in GE this week for their annual party conference I will bring the subject up and wait for a reaction. Will keep you updated.
  4. Cheers Tin_Bath!
  5. SWA,

    It isn't a given, so do your homework. Ask your boss to sign up to the idea by commenting on your CR that "General SWA is a capable and reliable character who ... and might just be persuaded to continue .... etc".

    Be prepared to drop a rank or two to where the holes are....Fallingbostel or Bordon, perhaps! I recall that the black hole is in the area of the senior Cpl and Sgt - but I might be out of date. Note that you'll stay on mark time rates of pay.

    You remain deployable! The sandpit beckons!

    Are you more easily employable at 40 or 45? I reckon the lower age, but you might disagree.

    I think Limited Continuance is done in 5 year chunks, so you don't have any long term security.

  6. Noooooooooooooooooooooooooooooo! Run! Run to the hills! Flee my brothers, lest we are caught!
  7. The reality might be that they don’t want to be up to strength as it means paying 800 more people or whatever the deficit is!!

  8. Don't do it. REME on the cheap springs to mind! Remember, you will not get your lump sum or pension therefore you need to balance that off against your wages (if you get paid 30k & your annual pension is 10k, you could argue that they are only paying you 20k for doing the same job :evil: ).
  9. fuku... well mentioned, the biggest reason to not commission... extra work/crap, less recognition (WOs and ASM get more creed than LE Capt) and a 10K pay drop (not to mention LOA reduction)
  10. Applied for it just so I can complete my degree with some stability then I'm offski.
  11. Aaahhhh, that one! It isn't as simple as that, Fuku, although what you describe is a useful way of looking at it.

    If you serve another year, then you receive your salary, say £30k, but you also receive an uplift to your pension of another year and the rate of inflation. For me, that works out to about another 5-6% on my pension. Key that additional money into an Excel spreadsheet and look for the NPV function, which tells you how much a string of cash payments (your pension) is worth. Extend the no of years in payment to 20 or 30, and use 2% for the discount rate. That will show you that the value of the additional pension you earn by completing another year's service can be worth as much as 50% of your basic military salary.

    In absolutely simple terms, to purchase another £500 of pension per year for the next 30 years will cost you £15k (30*£500) (and it will be less than that but I won't explain the reasons here, unless you want me to). And you add that value to your annual salary.

    To use your example, the total return for another year's service could be £40-45k instead of £30k. And your effective remuneration would fall from £45k to £10k on retirement!

    If I haven't explained it very well, PM me and I will send you a spreadsheet!

  12. Percy_Pigeon

    Percy_Pigeon War Hero Book Reviewer

    I’m not REME but have served 13 year+ attached. If it suits you go for it. The army has had its moneys worth out of you, and your still contributing and toping up the pension.

    I have noticed from the stacker side of the future Service Corps is that if people on continuance don’t like it they vote with there feet and sign off.

    Don’t listen to the negative sh1t, look after yourself
    :mrgreen: :oops: :oops: :p
  13. On continuance and happy. I joined the Army late and the prospect of pulling on the Orange B&Q overalls at the age of 44 scares the sh1t out of me! Pension forecast looks good though....
  14. Continuance should only be granted if the individual is FE and fully deployable!!

    There are several lazy wasters out there who take continuance because they're too lazy to get a job outside.
    This detracts from the good guys out there who can still do it all.