New Redundancy Terms Announced.

or8it

Here is a link to the new redundancy scheme 2010.

http://www.mod.uk/DefenceInternet/AboutDefence/CorporatePublications/PersonnelPublications/Pensions/Booklets/ArmedForcesRedundancyScheme2010.htm

Still trying to work out what I would get if made redundant but whatever it is I know it isn't as good as the old scheme!

ianm41

Good luck trying to work that lot out!

gavvallance

or8it wrote: »

Here is a link to the new redundancy scheme 2010.

http://www.mod.uk/DefenceInternet/AboutDefence/CorporatePublications/PersonnelPublications/Pensions/Booklets/ArmedForcesRedundancyScheme2010.htm

Still trying to work out what I would get if made redundant but whatever it is I know it isn't as good as the old scheme!

yes I am also trying to add it up. Unfortunately they changed the entitlement to immediate pension in 2008 from 12 to 18 years served. I have done 14, probably 17 by the time redundancies are finished. shafted.

callan05

If you get any luck working it out please let me know, im just short of 18 years by a couple of months and im ready to go. I had a quick look but its quite confusing. Is it branch/trade specific that they are looking for?

Alias_Omega

Im going to make this a sticky for a few weeks..

Alias

Savvy_Spender_South

I would suggest there will be no compulsory redundancy. Tried it with RLC Chefs then back peddled through fear.

There will be voluntary redundancy for a few but not very limited payouts.

7000 Army jobs, 5000 Navy and RAF will be soaked up through normal outflow, recruiting has already been cut to shift the balance.

davilown

Well, I believe I've worked mine out

13 years service of 22 = 13 yrs RRS
Not entitled to immediate pension (IP)
((Wage/12 months) x 1.5 months pay) x years served
((£36970/12) x 1.5) x 13
=£60076.25 + resettlement grant (served more than 9 years)
= £70000 tax free

:beer: but they'll never make me redundant:(

or8it

Savvy_Spender_South wrote: »

I would suggest there will be no compulsory redundancy. Tried it with RLC Chefs then back peddled through fear.

There will be voluntary redundancy for a few but not very limited payouts.

7000 Army jobs, 5000 Navy and RAF will be soaked up through normal outflow, recruiting has already been cut to shift the balance.

Not so sure. Read a Face to Face brief today which stated that the reduction in manpower could not be met by natural wastage alone. Another brief was also published today stating that nobody would be made redundant before July 2011 therefore if you were to be made redundant you are safe until at least July 2012. Unfortunately these briefs aren't available on the internet but if you can access the Defence Intranet they are readily available.

snowball1972

davilown wrote: »

Well, I believe I've worked mine out

13 years service of 22 = 13 yrs RRS
Not entitled to immediate pension (IP)
((Wage/12 months) x 1.5 months pay) x years served
((£36970/12) x 1.5) x 13
=£60076.25 + resettlement grant (served more than 9 years)
= £70000 tax free

:beer: but they'll never make me redundant:(

Keep dreaming, but can't see it being anything like that!

davilown

snowball1972 wrote: »

Keep dreaming, but can't see it being anything like that!

That's what the DIN says, we knew that if you were within the 12 - 18 years served it would be the highest payout. Those after (or within their immediate pension) is a lot lot lot less.

danlojo

I'm guessing that as my dh is on 26 years in he might aswell plod on until 50 then?