SCHEDULETHE ARMED FORCES REDUNDANCY SCHEME 2020

PART 2Eligibility, entitlement and amount of compensation

Amount of payment: regulars on long service commitments leaving after EDP 2015 point10

1

This paragraph applies to an eligible person who—

a

has joined the regular forces on or after 1st April 2015;

b

ceases service before the end of their commitment period, but on or after becoming entitled to EDP 2015 payments or reaching age 60.

2

Subject to sub-paragraphs (3) and (4), the amount payable under paragraph 8(1) is equal to the person’s final relevant earnings.

3

If the number of remaining years that the person had left to serve in their commitment (“R”) is less than 4, the amount payable under paragraph 8(1) is 25% of their final relevant earnings multiplied by R.

4

If the person has 40 or more years of pensionable service as a member of AFPS 2015, the maximum amount payable under paragraph 8(1) is half of the person’s final relevant earnings.