Navy Net - Royal Navy Community

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

Lump sum and Pension on leaving

woohoo

Newbie
Hi guys, today is my last official day in the RN after 27 years. Does anyone know how long it takes for the lump sum to actually be processed and appear in the bank? I was told that it could vary from the next working day(which would be Monday), up to 30 days later. I just wondered what everyone's experience of this has been. The missus has got most of it spent anyway but I'm told it is for my benefit as it will increase the value of the house:sad5:
 

frogman007

War Hero
Personally, mine took about ten days after ID card time. So for you a week Tuesday (ish). Pension day for you will be the 20th (if today is your actual Tx date less terminal).
 

WreckerL

War Hero
Super Moderator
It's normally about 10 days as Froggers says. Mine took about 6 weeks because of a JPA cock up (no surprises there then).

After my experience I'd advise you to ring JPAC up and confirm they know you're outside and your terminal date.
 

Bad CO

Admin
I got mine in July and it took about three weeks. The monthly sums have also appeared regular as clockwork every since. All in all the whole thing has been a very impressive experience!
 

vauxhall

Lantern Swinger
Hi guys, today is my last official day in the RN after 27 years. Does anyone know how long it takes for the lump sum to actually be processed and appear in the bank? I was told that it could vary from the next working day(which would be Monday), up to 30 days later. I just wondered what everyone's experience of this has been. The missus has got most of it spent anyway but I'm told it is for my benefit as it will increase the value of the house:sad5:


The rules give SPVA 30 days to pay it but they do better than that. There has ben a lot of information about actual experience on ARRSE and, although the odd person has reported having their lump sum the day after they left, the norm seems to be that it is paid within 7-10 working days after you leave.
 
Thread starter Similar threads Forum Replies Date
vauxhall Lump Sum Choices Finance & Pensions 0
S Help with lump Sum Finance & Pensions 9
SamWar Nsmbos and Lump Sum Payment Finance & Pensions 9
Polto Child benefit and declaring the lump sum Finance & Pensions 14
R Resettlement lump sum? Finance & Pensions 7
Nails My dog just swallowed a lump of resin Diamond Lil's 56
Cloggie Songs that give you a lump in the throat Diamond Lil's 75
stabradop Brought a lump to my throat... Current Affairs 9
MoD_RSS Pension costs review for Northern Ireland Water MoD News 0
MoD_RSS Simple statements boost for pension planning MoD News 0
MoD_RSS Landmark pension proposals will protect savers from scams and help tackle climate change MoD News 0
MoD_RSS Pension boost protected by new bill MoD News 0
MoD_RSS Government launches cross-sector Working Group to help address multiple small pension pots MoD News 0
MoD_RSS Government to help pension schemes seize long-term opportunities MoD News 0
MoD_RSS Taking action on climate risk: Improving governance and reporting by occupational pension schemes MoD News 0
MoD_RSS Britain’s pension schemes lead on climate risk MoD News 0
MoD_RSS New Chair of Firefighters’ Pension Scheme Advisory Board of England appointed MoD News 0
K AFPS 75 - preserved pension rates Finance & Pensions 2
MoD_RSS Landmark Pension Schemes Bill proceeds to House of Commons MoD News 0
MoD_RSS Canada Pension Plan MoD News 0
MoD_RSS GAD's support on pension entitlements for fee-paid judges MoD News 0
MoD_RSS Pension Credit claimants now able to apply online MoD News 0
MoD_RSS GAD project helps 1,000+ pension scheme members MoD News 0
MoD_RSS Pension investment advisor banned MoD News 0
A OR2 full career pension rates 1998 Finance & Pensions 8
B Commute my pension or not? Finance & Pensions 4
MoD_RSS GAD pension specialists share expertise at industry conference MoD News 0
theoldti FTRS effect of pay rise on pension abatement Finance & Pensions 4
MoD_RSS GAD’s review of the Local Government Pension Scheme (Scotland) MoD News 0
MoD_RSS Statement from the Secretary of State on the Clinician Pension Tax Scheme MoD News 0
vauxhall How good is your pension? Finance & Pensions 0
MoD_RSS Russell Agius reappointed to the Judicial Pension Board MoD News 0
E Added pension Finance & Pensions 5
MoD_RSS Changes to the currency of UK State Pension and Industrial Injuries Disablement Benefit paid into Yemeni bank accounts MoD News 0
J Collection Pension From Overseas Finance & Pensions 2
vauxhall Pension Roadshow Schedule 7-11 October Finance & Pensions 0
B Pension for reservist 1 year operational service Finance & Pensions 1
MoD_RSS Multi-million-pound pension liberation bosses banned for 34 years MoD News 0
MoD_RSS Pension entitlements for fee-paid judges MoD News 0
vauxhall Keeping an eye on your pension! Finance & Pensions 0
MoD_RSS Non-Executive Chair to the Civil Service Pension Board: 5 September 2019 MoD News 0
MoD_RSS Pension company wound-up after mismanaging £14m of funds MoD News 0
MoD_RSS Uprating guarantee for UK State Pension recipients living in EU MoD News 0
vauxhall Telegraph Reports on Pension Tax Trap Finance & Pensions 0
vauxhall Pension Tax Update Finance & Pensions 0
vauxhall Forces Pension Society Appoints New Chief of Staff Finance & Pensions 0
vauxhall BBC reports that 'woman wins rights to her late partner's military pension Finance & Pensions 0
Sumo 'Unlawful' pension schemes to cost government £4bn a year Finance & Pensions 3
MoD_RSS Pension scheme negligence lands insurance boss seven-year ban MoD News 0
Archstoker Forces pension and age pension Finance & Pensions 6
Similar threads


















































Latest Threads

New Posts

Top