Paying Back Retention Bonus

Discussion in 'Finance & Pensions' started by dhoby, Feb 8, 2016.

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  1. Could anyone tell me do you have to pay back the whole 15k petty officer retention bonus if you do not complete the whole 3 years or is pro rata i.e say you complete 2 years is it only a third you have to pay back.
  2. I dont know for sure...but I cant see it being pro rata. They want the full return of service...not just the bit that you want to do. It makes if difficult to plan if you sign up for three and then decide to only do two because the grass suddenly looks greener elsewhere.
  3. If you read the FRI paperwork its worded that it is the full amount you pay back, net of tax, so what you got after tax. I have heard that the RN or MOD were advised that wasn't quite legal and it should be pro rata but whether that is true or not, who knows. I have not heard of anyone paying it back in order to know one way or the other.

    If you decide to jump let us know one way or the other, there's a good chap.
  4. It's definitely not pro rata and neither should it be. Several people have repaid an FRI in order to lift the related RoS, mainly submariners as far as I know.
  5. You have to pay the full amount back (net of tax). If you are leaving for medical or compassionate reasons then your case will be reviewed by CNPERs on a case by case basis.

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