Navy Net - Royal Navy Community

Register a free account today to join our community
Once signed in, you'll be able to participate on this site, connect with other members through your own private inbox and will receive smaller adverts!

Is 2OE attractive these days- or do your time and go?

Once you get to CPO, as long as you've got a pulse then 2OE (5) seems to be offered. If you accept it means that you get 5 more years security and the RN can get one more front line draft out of you.

Once you've signed on, a high proportion of personnel are offered a further 5 in the next couple of years and may, if RA 55 becomes reality, be offered another 5 to complete the set.

If you are happy with your lot, then emplyment to 55 could mean an early retirement, however there is nothing to stop you looking for alternative employment and using the 2OE system to YOUR advantage.

As the majority who have completed 22 years are eminently employable, you may find it very easy to scale the pyschological hurdle and leave the RN comfort zone for life in civvy strasse.
 
clanky said:
Sorry Nutty, but in the real world your numbers just dont add up.
Even allowing for a generous interest rate on any savings, I,d be hard pressed to earn enough to make up the difference without slogging my guts out or moving. Excuse me while I check out the salaries on the Flagship website.

Clanky

I do not know what you earn so I have taken £30.000 as a base example figure.

Gross Pay £30.000 Annual Income.

Pension at age 40 two thirds annual pay £20.000 Annual Income now £20.000 plus any new income lets say as a civvy trainer with RN £20.000
£40.000 Gross. a little more than £30.000 don't you think. Plus no Naval Discipline Code, No Sea Time, No Pier Head Jumps etc. all for £10.000 per year more.

If you do not work at all its £20.000, remain in Pusser and from the £10.000 you are up you have to subtract:
£2.200 Tax ar 22%
£600 Nat Insurance contributions
£1000 Petrol, Tax, Insurance, Maintainance etc at 10 miles each way
£500 Clothing and food purchased out of home.
£500 Mess bills and social spending drinks, mistress etc.

£30.000 less £4.800 is £25.200 less the £20.000 you get sitting at home on pension. So you work within the navy for £5.200 per year very cheap labour me thinks.

Simple figures which have not allowed for any interest gained at 4.5%

We did these sums many times in Plod until the Home Office and Revenue changed the rules. Only then did officers in any substancial numbers re-join/remain as attested officers or in similar jobs as civilians.

Nutty
 
Long time ago but I opted for another five years on my 22 . It was my decision so as I had security in work while my kids were still at school . After the five years they were technically adult [16 years old]also I almost paid off my mortguage.
When I did come out it was like a breath of fresh air ---------straight into another job non defence industry and the technology being used was really state of the art modern design commercial electrical control and operating systems. And it was continually getting updated or renewed.

Money wasn't as good but the Navy pension backed me up anyway and the work place was local . No Duties -paid overtime and holidays.

My advice to the technicians is get out while you 're young [40] there's a lot of new technology out here -------
 
I took 2OE, but to be honest I have no real intention of doing it. If the job situation outside is still good in a few years then I'll leave at my 22 point. Most SR's I speak to in the same position seem to have the same plan. So in answer to the original question - it's do your time and go!
 
Nutty said:
clanky said:
Sorry Nutty, but in the real world your numbers just dont add up.
Even allowing for a generous interest rate on any savings, I,d be hard pressed to earn enough to make up the difference without slogging my guts out or moving. Excuse me while I check out the salaries on the Flagship website.

Clanky

I do not know what you earn so I have taken £30.000 as a base example figure.

Gross Pay £30.000 Annual Income.

Pension at age 40 two thirds annual pay £20.000 Annual Income now £20.000 plus any new income lets say as a civvy trainer with RN £20.000
£40.000 Gross. a little more than £30.000 don't you think. Plus no Naval Discipline Code, No Sea Time, No Pier Head Jumps etc. all for £10.000 per year more.

If you do not work at all its £20.000, remain in Pusser and from the £10.000 you are up you have to subtract:
£2.200 Tax ar 22%
£600 Nat Insurance contributions
£1000 Petrol, Tax, Insurance, Maintainance etc at 10 miles each way
£500 Clothing and food purchased out of home.
£500 Mess bills and social spending drinks, mistress etc.

£30.000 less £4.800 is £25.200 less the £20.000 you get sitting at home on pension. So you work within the navy for £5.200 per year very cheap labour me thinks.

Simple figures which have not allowed for any interest gained at 4.5%

We did these sums many times in Plod until the Home Office and Revenue changed the rules. Only then did officers in any substancial numbers re-join/remain as attested officers or in similar jobs as civilians.

Nutty

An interesting concept Nutty, but check out www.MoDpensioncalculator for some real life figures. Compare them against the wages available as a civvy instuctor from the FSTL site I quoted earlier, and perhaps you'll see the weaknesses in your logic. Why do you deduct normal living expenses?Surely they apply whether in the mob or out, though I wish my yearly drink bill was only £500. TTFN.
 
I can understand what you mean Clanky
Surely It`s all down to quality of life, I still go to work and after being in business for the last 32 years I really don`t need to.
Civvy street is not easy any more and to survive is to know how to bend all the rules that have appeared over the last 20 years, and this is something that isn`t learnt at a training seminar.
I would suspect the mob holds few surprises for you now, or none at least that you can`t take in your stride so why not stay in as long as you can while you can.

Or you could end up being the first one to the pub every afternoon
 
Clanky

Let the figures apply to an AB1 it is only a set starting point which can be translated up or down. First you must add his new wages lets say as a Police Community Support Officer £23000 in London approx. to his pension. To give his gross earning per year figure. Compare that to his wages as a AB1

As for daily costs you will quickly find when you are sitting at home as the great unemployed, artist, writer etc. your costs fall dramatically, not drinking, not going down the pub after work, lunch time or what ever, eating out, impulse purchases, parking meters, congestion charge if you have to drive in London. Wear and tear on suits, white shirts ties etc. Mobile phone calls etc. We were comparing gross take home income when working for Pusser or sitting at home collection your pension.

To work on means you are working for at the very best 40% of your gross income at worst 10%. whilst still excepting Military Discipline, Sea Time, Pier Head jumps, Active Service in war zones all that for £6000 a year or what ever seems silly to me.

Answer me one question, If you left with your pension and re-joined the navy the next day on the wages of a New Entry plus your gross annual pension would the combined figure be above or below your current annual earnings?

Nutty

PS looking at your pension site then an AB1 taking up a job as a Police Community Support Officer in London would be about £5000 a year better off and have £20.000 in the bank.
 
I personally think "do your time and go" is the right answer. Ask yourself this do you really want to be at sea when you're nearly 50? Getting less than MTA because of all the P7R ratings and those who took 2OE but as soon as a draft is mentioned their notice goes in. Watching JR's doing half deployments under topmast rules and SR's and officers do the full trip. The Andrew is not what it used to be, best to go happy with good memories rather than bitter and twisted....
 

Latest Threads

New Posts

Top