New Financial Assistance Regulations from 14 April

Well, I admit to being pleasantly surprised - these seem to cover the problems seen up until now. No more worries about pay and the ability to claim for those extra costs that crop up. Nice one.
Not wishing to detract from XA's excellent post:

Improved Financial Assistance for Reservists and Employers
Published Monday 4th April 2005

Members of the Armed Forces ReservesNew financial assistance regulations for reservists and their employers were announced on the 4th April 2005 by the Under Secretary of State for Defence, Ivor Caplin.

The regulations streamline the claims process and substantially improve the level of financial assistance payable to both reservists and their employers. The new financial assistance package will come into force on 14 April 2005.

The new financial regulations are the result of a comprehensive review of the financial assistance given to reservists and their employers that started in July 2004.

Reservists whose civilian pay is higher than their service pay will now receive an additional payment to make-up the difference between the two. This will be subject to an overall cap of £548 per day (equivalent to around £200,000 a year). For medical consultants serving with the Defence Medical Services the cap is £822 per day (equivalent to around £300,000 a year). Reservists will also be able to claim the cost of replacing certain benefits in kind that they lose on mobilisation, such as health insurance and company cars. Any payments to the reservist for these purposes will count towards the payment cap.

Reservists can also claim for certain additional expenses incurred when they are mobilised. These include, for example, costs associated with childcare and the care of dependant relatives. These costs are not included in the payment cap.

Employers of reservists will also be able to claim the additional costs associated with employing a temporary replacement, subject to a cap of £110 per day (equivalent to approximately £40,000 a year). In addition they will be able to reclaim in full any one-off or non-recurring costs of replacing a Reservist, such as agency fees. A re-training payment can also be claimed. There is no payment cap on these payments.

To avoid the value of the caps on the payments to Reservists and employers being eroded over time they will be subject to annual review from April 2006.
About time too. :D
So at least all those city bankers going to Telic "stag on" will be bored stiff . They can cheer themselves up by looking up bank balances on their blackberries!

Cost of call up for the Inns of Court Yeomanry would be interesting to see.

Good move, but a little tardy.
Gobsmacked! It sounds like someone somewhere might actually have been listening!

+ not only have they sorted out the individual awards, but also done something fairly sensible about the employer side too and the payments are to be reviewed it seems annually.

There must be a catch. There has got to be a catch...

Of course... Stand by for more brown envelopes!!

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