Croppyking
2nd Aug 2006, 03:25
Can anybody tell me if MSBS entitlement is tied to compulsory retirement age? ie if my CRA was 45, would I be able to take all of my MSBS entitlements when I turned 45?
Pass-A-Frozo
2nd Aug 2006, 07:52
I assume you got the same letter from DP that I did..
I confirmed it with the MSBS people. Initially they were saying on the phone I was wrong - after putting it in writing with the correct references they said:
If at 45 I'm still a FLTLT I will be CRA'd, at which time I would be entitled to a indexed pension (straight away, don't have to wait till 55 or 60) . The booklet has how to calculate it (on the military super website) . It's something like Employer benefit at that time / 14 = Annual pension for rest of life.
If you get promoted to SQNLDR, you automatically get moved up to the 55 CRA like everyone else.
If you don't want to be age retired you can apply for an extension to your CRA.
:ok:
If they ask you to sign a change in your employment conditions, it's for the worse .. They never ask you to sign off that you'll accept a pay rise do they?? :E
Look in the Military Super booklet for the chart that shows Retiring < 55, reached Retirement age* Yes and look at what you can get.
I wrote back to DP and declined to accept the 55 CRA, and to stay on my 45 CRA