Redundancy under 18 years service?

Discussion in 'Education and Resettlement Courses' started by Talibanfingahunter, Sep 1, 2011.

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  1. Just attended a brief on the new structure of the army, talking about redundancy deals.

    One of the columns was for solders under 18 years service, being granted 1.5 months pay for every years service. But no immediate pension. (should of asked) but would you still be entitled to some pension? I.e if you did more than 4 years an signed of normally at 65 you'd get a pension.

    Again I know I should of asked but didn't think about until after we left, an no one else new the answer. Also I did try searching other forums but couldn't see anything (am using my iPhone)

    Cheers in advance.

    TFH
     
  2. TFH, what you say is in a round about way correct, you will still receive a preserved pension, at the age of 60 (I think this is age, changed from 55). So in effect served 4 years, at age 60 receive 4/37th of a full service pension.
     
  3. If you haven't done 18yrs on your termination date, you will receive a larger tax-free payout, but no immediate pension. You receive your preserved pension at 60. It's a crap deal. I know a guy who took the hit on tranche 1 and misses out on his pension by 9 days. Over the course of 25yrs (until he hits 60) he'll have lost out on £250,000