Lump sum payments?

Discussion in 'Army Pay, Claims & JPA' started by SOLSTICE, Jun 7, 2009.

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  1. Just curious, heard that after certain amount of years you get a lump sum of some sort, how much are these and at what years do they come?
     
  2. Army?

    Still serving?

    Which pension scheme?
     
  3. Id like to know the full details on this to.

    Me:

    2 years serivce
    New Pension scheme
    Reme
    Technical Support Specialist.
     
  4. Are you on about Pension lump sums or retention lumps sums?

    If you go on to Armynet there is a pension calculator....

    One here too... but don't trust the figures TOO much.

    However looking at your specified info... ie 2 years service, Craftsman rank, new pension scheme....

    You'll get £1738 at 65, and then £577 per annum after that.
     
  5. Im on about retention money, dont realy know a lot about it, like if i sign on at my 4 year point for another 4 years etc. I know there was a scheme for class 1 vms to sign on for extra money because they were all leaving, but just retention money in general.
     
  6. In all honesty there are so many different bonuses flying about that the best thing to do is speak to your Company Ink.
     
  7. 3. Enhanced CB Scheme. As at 1 Apr 09, individuals with 4 years or less CB ‘reckonable’ service will qualify for the Enhanced CB Scheme, which has a potential maximum of £15,000 (gross). The following terms apply:

    • The maximum £15,000 (gross) can be claimed by waiting until the 8 year point. Claimants may choose to take an early payment (at the 4, 5 or 6 year point), but this will reduce the overall value of the CB.

    • Although there is no formal return of service, personnel must not have signed off at the time of claiming – effectively meaning that they must complete a minimum of 12 months further service.

    The ins and out of exactly how much at what point are quite complex. If you have DII / RLI, PM me and I will email you the relevant Table showing what you can get when.

    My personal advice; unless you're planning on getting out before your 8 year point, wiat until then as you get the full 15k. Anything you take before that DRASTICALLY reduces the amount you can claim.
     
  8. 3. Enhanced CB Scheme. As at 1 Apr 09, individuals with 4 years or less CB ‘reckonable’ service will qualify for the Enhanced CB Scheme, which has a potential maximum of £15,000 (gross). The following terms apply:

    • The maximum £15,000 (gross) can be claimed by waiting until the 8 year point. Claimants may choose to take an early payment (at the 4, 5 or 6 year point), but this will reduce the overall value of the CB.

    • Although there is no formal return of service, personnel must not have signed off at the time of claiming – effectively meaning that they must complete a minimum of 12 months further service.

    The ins and out of exactly how much at what point are quite complex. If you have DII / RLI, PM me and I will email you the relevant Table showing what you can get when.

    My personal advice; unless you're planning on getting out before your 8 year point, wiat until then as you get the full 15k. Anything you take before that DRASTICALLY reduces the amount you can claim.