Lump sum and Pension on leaving

Discussion in 'Finance & Pensions' started by woohoo, Sep 20, 2013.

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  1. 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:
  2. 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).
  3. 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.
  4. The official time is 30 working days. So it may take up to 6 weeks.
  5. 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!
  6. Mine was 10 days, going to the cashpoint and getting a mini statement was fun. Still got a copy of it!
  7. 10 days for me as well,back in 2008

  8. 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.

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