A question about : 12 Year Money Advice
Hi everyone
Hoping someone can help us ...
My husband has been in the Army for 7years now ... He would stay in forever but we have come to a decision as a family that we need to start sorting our lives out for 'coming out' .. working out when the best time to do it will be and when we should be in the strongest position, Now I am aware that the strongest position we could be in would be him serving a full 22 years and have a full Army pension for the future but thats not what either of us have in mind!
My DH took his '4 year money' so we know that we can withdraw again at the 8 year point (we think this will be arond the Ј4k mark after tax). Originally we were thinking we would get his 8 year money and then sign off - work the years notice required and move back 'home'.
Recently I have heard that if you stay until your 12 year mark you dont only get your half pension, you also get a Ј10k bounty - is this true? The Army forever holds a carrot to make you want to stay in and i'm totally aware of this ... we are just trying to work out when our last carrot will be so to speak.
Thanks for any help/advice anyone can give
Best answers:
- Hi MrsP89,
I could waffle on for a paragraph and paragraph, but the reality is that once link to a website will solve your issues.
https://www.mod-pc.co.uk/
This link is to the Armed Forces Pension Calculator.
Regards,
AO - Thank you very much Alias_Omega - i'll look at that now :-)
- YOU DO NOT GET HALF YOUR PENSION!!!
Its a one off resettlement grant of Ј10k - ^
I believe the OP means that they only receive half of the full pension. However the pension calculator would have cleared all this up, as it draws a nice little graph.
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