exmunkey,I must admit that my memory is hazy but I seem to remember back in the 80' a 22 year contract but there again I forget to do my flies up as well so who knows
When you posted this in CA you were informed that those within 4 years of their IPP on discharge through redundancy will receive an immediate pension, as well as a nice fat redundancy pay off.
Secondly, the Army never asked or expected anyone to serve to 22 years, there is no contract for 22 years if there was soldiers would be beholden for 22 years.
So let's get the facts right.
As far as redundancy packages go, you can't get much better than this.
The OP has deceived people on this thread.
In terms of the redundancy lump sum it will be taxable in the financial year that you recieve it and the catch is this. If you start in say April, at the start of the financial year it is more beneficial than if you have recieved your full salary the following march as you will be taxed at the Higher rate by HMRC who make no distinction between the lump sum and earnings. This means that at the end of the financial year you can be left with less of your lump for the following year. Don't forget that if you have had a lump sum you don't qualify for JSA as you are deemed to have savings and that has to do you until you find a job. Ok for those living with mum and dad , but not good for a family. Any pressure on the Government in this respect can only be Good.
So you got a better deal than we did. Fair does in some respects I suppose. I dont think any of our lump sums got any dispensation.The 1st 30k of redundancy is taxfree. You will still be entitled to contributions based JSA, although don't spend that £65/week all at once
I would stick that money in the wife's account.
Yes, I can see the inequality of an officer receiving an IP with 16 years service and OR with 22.
And of course, there's still inequality under redundancy when officers will see an IP at 16 years and ORs at 18.
Are you alright jack!
TLM,I see this thread has now generated some interest and discussion. Having just got in from work and done the chores, I have time to reply. To those that have signed, thank you all. Please continue to tell your family and friends. Every little helps. I do not think it is an over ambitious petition, it seeks to generate debate in Parliament (of which their is much split opinion in the MoD and Govt on the matter); it seeks nothing more than that outcome.
Second para, we all sign an agreement, as I did at IRC, the details of which shiny_Arrse hits the nail on the head with. Unfortunately, this all happened pre Sep 2009...when the MoD changed the terms and reference agreement of engagement stating it could make anyone redundant at any time; this is contrary to the original terms and conditions of contract.