Pension rights for rnr

Should we get a full RN type pension?

  • No

    Votes: 0 0.0%
  • dont know

    Votes: 0 0.0%

  • Total voters
    52

chieftiff

War Hero
Moderator
I think you guys do deserve a pension of some sort, but I can see huge issues with calculating it and I suspect it would require an abatement of your bounty and pay. One big problem, how can you possibly think such a thing would ever happen? As long as the regular armed forces are short of manpower, with shortfalls in recruiting and increases in PVR, you reserves will be called upon to fill billets at an ever increasing rate and probably offered FTRS at an equally increasing rate.

This serves to mask a problem in the regulars so no improvement in our terms and conditions= no incentive for the supermarket stackers to join, why should they leave home to earn less money?

If the Armed Forces can be run with good people giving up their own time to earn little pay and no pension you have to ask yourself why it will continue? Oh yes, it's obviously the most efficient way to run a defence force but an expeditionary force- I think not!

Not having a go at you reserve types, you do a good job and I sometimes wonder what we would do without you.
 

SpliceTheMainbrace

Lantern Swinger
Don't see why we shouldn't? Perhaps if you do X amount of years service you should be eligible for a Navy Pension, ok not the full one those in the Navy get but one that is in proportion with being a Reservist? Maybe a means tested system based on how much ORT you have given over the years?
 

noemis

Lantern Swinger
chieftiff said:
As long as the regular armed forces are short of manpower, with shortfalls in recruiting and increases in PVR, you reserves will be called upon to fill billets at an ever increasing rate and probably offered FTRS at an equally increasing rate.

I understand that FTRS is now considered an expensive luxury and quite a few are not going to be re-engaged. Ex-regular in our unit who has been FTRS, since leaving after 22 years, is looking at rejoining as a regular as FTRS billets have been scaled back!
 

Captain_Jacks

Lantern Swinger
noemis said:
chieftiff said:
As long as the regular armed forces are short of manpower, with shortfalls in recruiting and increases in PVR, you reserves will be called upon to fill billets at an ever increasing rate and probably offered FTRS at an equally increasing rate.

I understand that FTRS is now considered an expensive luxury and quite a few are not going to be re-engaged. Ex-regular in our unit who has been FTRS, since leaving after 22 years, is looking at rejoining as a regular as FTRS billets have been scaled back!

FTRS is different as they do get full rights as regulars including pension.

FTRS is only available if the navy need the job not if you want the job.

The main issue is all the other guys who do a lot of time masking the navy problems without any help or support :?
 

Shakey

War Hero
FTRS don't get all the same rights as regulars, you don't get RILOR, help with education for your kids, help with a mortgage etc.
 

WarMonger

War Hero
I dont see the difficulty personally, everyone assumes that in order to have a pension you must make rigid and constant contributions, not the case. A simple company based stakeholder scheme which has no minumum contribution and and no fixed payment schedule would do the job.

All that is required is that a % contribution is determined. This contribution could be paid at the end of the tax year as a lump sum to the fund by either MOD, MOD and reservist (i.e. additional contributions) . Based on the annual income as stated in your P60 the inconsistent nature of our pay each month would not be an issue.

However this would need money to fund it from central government....as we all know thats like rocking horse shit!!
 

buster

Banned
we certainly should have a pension. with regard to how it is funded, it's my understanding full timers do not have a deduction from their pay, for a pension. neither should we. as for bounty being in lue of pension- horseshit. bounty is a retainer. pure and simple. see other threads regarding "golden hello's/handcuff's" for edification.
 

RNRAWBOD

Badgeman
Financially, the bounty over the pension is a complete no brainer.

Let me let you onto a little secret....:

1) this is what your bounty is for. It would go/be severley curtailed if we had a pension.
2) your bounty is paid tax free.
3) working on a nice round figure of £1,000 bounty, this means you have been paid effectively +22% (basic rate taxpayer) = £1,136.36, or +40% (higher rate taxpayer) = £1,666,67.
4) Looking at it another way, your £1,000 bounty, if taxable, would result in £880 or £600 in your pocket, depending on whether a higher rate tax payer or not. Not £1,000. I'm discounting NI for simplicity.
5) Pension contributions are taxen from gross income (i.e you get your tax back), so had it been taxable but paid into a pension, you would have only £1,000 paid in, in total.
6) Nothing's stopping you putting that money into a personal pension anyway. WHERE THE GOVERNMENT WILL GIVE YOU A FURTHER 22%/40% BACK DEPENDING ON YOUR NON-SERVICE TAXABLE SALARY!!!
In other words, £1,136.36, or £1,666,67 will effectively go into a pension due to the additional tax rebate reclaimed.
7) As a proportion of a roughly £1,800 salary, (rough calculation of £75/day x 24 days), I'd say that's fairly generous of HMG, and is damn sight more than you'd get if you got a pension but no bounty!
 

Captain_Jacks

Lantern Swinger
Yes but we have to pay it not the government

If they paid into a pension we still would not be taxd and the gov can claim back the tax (from themselves)

The bounty can keep us in but a pension will make us want to work :)
 

chieftiff

War Hero
Moderator
£1136 would be 12% tax ! I think you mean £1282 :lol:

I think we get the logic though, incidently regulars do not make a direct pension contribution as the Police do for example, however it is a condideration of the AFPRB who consider it as part of the overall pay package and they have made quite a deal of it at the last two roadshows that I attended!! So much so that I now consider it a contributable pension, makes me feel that my pay isn't so bad after all!
 

buster

Banned
RNRAWBOD said:
Financially, the bounty over the pension is a complete no brainer.

Let me let you onto a little secret....:

where is it written down (so i can educate myself) that reserve forces get bounty instead of pension?
i was under the impression that these were two different fiscal systems. confused.
 
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