New Commitment Bonus.

#2
Good news, but what's the commitment (4 years?). Take away 20% tax, that leaves £12K and if the commitment is 4 years that gives £3K per year net. Better than a poke in the eye with a sharp stick - especially if you planned on staying in anyway.
 
#3
15,000 over four a four year period i think
 
#4
Do you still get the 15k if you've already had your 5-year money but have not reached the 8-year point yet? I'm doubting it, but free money is always good :D

F_C
 
#5
You need 4 years OR LESS reckonable service in April 09.

The RoS is nil.

It is to rewards those for service already achieved. Bonkers I know but not complaining.

You can take a proportion of your £15k every year for 4 years up to your 8 year point. The more you take immediately the less you take as a whole.

So

Year 4 take 3750
then
Year 5 take 1250
or
Year 6 take 2500
or
Year 8 take 7500

or

Year 5 take 5500
then
year 6 take 1250
or
Year 8 take 7500

or

Year 6 take 7500
and
Year 8 take 5000

or Year 8 take the full 15,000
 
#6
Mmmm. says they're reviewing those who have fallen through the gap (done more than 4 years but not taken their commitment bonus yet)

Anyone want to bet this 'review' takes, oh, I don't know, bloody ages?!

(got to have a whinge!) :D
 
#10
You got some MUD!!!!


You lucky, lucky, bar-steward.

Only uncommitted, disloyal, spineless, inadequate, unfulfilled, weak sexually inept, boring, flatulent and smelly people whose mummy's dressed them funny and had no friends at school get Commitment Bonuses.
 
#11
Enlightenment said:
You got some MUD!!!!


You lucky, lucky, bar-steward.

Only uncommitted, disloyal, spineless, inadequate, unfulfilled, weak sexually inept, boring, flatulent and smelly people whose mummy's dressed them funny and had no friends at school get Commitment Bonuses.
..............and redarses!
 
#12
Bastards, the lot of you. I got a couple of weeks' RENLeave which I wasn't able to take due to commitments. 'Twere hard way back in them days.

The missus says so, too.
 
#13
let's all sing and dance however it's all out of your pension!!

the old pension boys win out in the long run as the new boys only benefit if they VEng til 55!! **** THAT!!

The money is given in return for a years service so sign one day and sign off the next. Plus some of us got quals which mean getting out is worth more then £3k a yr anyway!!
 
#14
Commitment bonuses don't come out of your pension.

When you do the Pension calculator on ArmyNet it doesn't ask you how many bonuses you signed for does it???

It's just an Urban myth.
 
#17
Elsie_Tanner said:
Dontdreamit said:
Yeh but the new pension is still a major screw job! So swings and roundabouts.
No arguments from me on that one :D
Hmm, when an AGC officer briefs the assembled masses that he can't give advice on the new pension system, then in the next breath says the army doesn't bring in anything to cost more and finishes by saying I can't give advice, but if I could I'd say stick with the old system. You kind of know the new one is shit.
 
#18
Bonzo_Dog said:
Good news, but what's the commitment (4 years?). Take away 20% tax, that leaves £12K and if the commitment is 4 years that gives £3K per year net. Better than a poke in the eye with a sharp stick - especially if you planned on staying in anyway.
If the £15k takes you into the higher tax band, you will pay 40% on a proportion of your bonus, plus NI, so that gives you just under £9k to just under £12k. Taking it in stages (as Dontdreamit suggested) can be far more beneficial financially.
 
#19
peanut_head said:
Is it just ME that's missed every bonus that has been introduced since 1987??!! :x Unbelievable! :roll:
No that'll be me too then Peanut, score the biggie in 2yrs 8months and 4days, counting down the bloody days.

Had a briefing on the new pension by a retd General a few years ago and his figures suggested that if you joined at 18, you had to stay in until 47 until the new Pension would start to beat the old one (by 3% or so then). If you decided to go for it, were commissioned and stayed until 55, then you'd be about 12% better off with the new Pension scheme, but for me, making the decision to swap, aged 34 and with all of the variables, MMMMMM lets have a think...............
 
#20
Whiskybreath said:
Bastards, the lot of you. I got a couple of weeks' RENLeave which I wasn't able to take due to commitments. 'Twere hard way back in them days.

The missus says so, too.
( adopts pseudo pythonesque northern accent)

RENLEAVE, Luxury we used to dream of RENLEAVE !

We was allowed to see us wife + kids at Christmas once every 10 years and had to carry us chevette estates on us backs, complete with W15, hard hat, mine tape. wellingtons, luminous tabard as well as all volumes of MAS and BAOR supplements. ( and that was just when we were in the OP)

We had to live off BAFVs and us ration cards.............
and the OC used to beat us twice a day... if we were lucky

Dontdreamit said:
8 year point : £15,000!
£15,000!! Why thats nearly more than a Marsh Arabist earns in a month!!
 

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