Lump sum payments?

#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?
 
#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.
 

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