5 year bonus and MBOS

Discussion in 'Finance & Pensions' started by redmonkey, Jan 19, 2015.

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  1. redmonkey

    redmonkey Badgeman Book Reviewer

    Do any of the jpa gurus know the rules for the 5year bonus and what happens if they then get a medical discharge at MBOS.
    Does the bonus then have to be paid back?
    Just asking for info.
    Thanks
     
    Last edited: Jan 19, 2015
  2. The new scheme applies to time done, so there's no repayment required. Under the Interim and Old schemes, you had to have a return of service and would, therefore, have to expect to pay back the whole lot or a portion of it.

    JSP 754 is your reference when you speak to a UPO monkey.
     
  3. redmonkey

    redmonkey Badgeman Book Reviewer

    Thanks Wls. I didn't know there were three schemes. I will javelin to find out which scheme my lad is on as he has completed his five years but has a board soon. Obviously he doesn't want to loose his job and has to pay back the bonus. Also makes me wonder on the FRI and med boards, however that isn't in the picture.
     
  4. He should be on the New Scheme CB11 and it's about half of what I was eligible for (£2,750 in his case). F

    RI does have a return of service and can involve paying a fair sum back. However, this would be detailed in the appropriate FRI paperwork because of the amount of conditions that get attached.
     
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