SCHEDULETHE ARMED FORCES REDUNDANCY SCHEME 2020

PART 4Special provision for eligible persons with AFPS 2005 service

Amount of payment: hybrid commitment – leaves before EDP 2005 pointI128

1

This paragraph applies to an eligible person who—

a

had their service continued to the end of their commitment period, would have reached age 55 or become entitled to EDP 2005 payments but would not have reached age 60 or become entitled to EDP 2015 payments, and

b

actually ceases service before either reaching age 55 or becoming entitled to EDP 2005 payments,

and in this paragraph references to service are to redundancy qualifying service.

2

The amount payable under paragraph 8(1) is comprised of an AFRS 2006 style payment and an AFRS 2020 style payment.

3

The AFRS 2006 style payment is calculated as follows—

Step 1: If TS is less than or equal to 18, the result of step 1 is 18×F×TSmath
If TS exceeds 18, the result of step 1 is 18×F×18math

  • where—

    • F is final relevant earnings, and

    • TS is total service.

Step 2: take the result of step 1 and multiply by RSTSmath

  • where—

    • RS is AFRS 2006 relevant service, and

    • TS is total service.

4

The AFRS 2020 style payment is calculated as follows—

Step 1: Take the lower of—

a

10.2% x F x TS, and

b

(10.2% x F x R) + (10.2% x F)

  • where—

    • F is final relevant earnings,

    • R is the number of remaining years that the member had left to serve in their commitment, and

    • TS is total service.

Step 2: take the result of step 1 and multiply by QTSmath

  • where—

    • Q is redundancy qualifying service, and

    • TS is total service.