What's stopping the Redundancy DIN?
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What's stopping the Redundancy DIN?
I'm trying to find out about the further information on redundancy (promised on 15 Feb in IBN 1 or whatever) and airspace says: This DIN will be released when given release authority by MoD.
Surely they're not waiting for a bad news day to bury it? How long until X-factor or similar starts again? Seems as it could be quite useful, why are they not releasing it as previously promised?
Just wondering what's stopping them. Thoughts anyone? Cheers, Letsgo
Surely they're not waiting for a bad news day to bury it? How long until X-factor or similar starts again? Seems as it could be quite useful, why are they not releasing it as previously promised?
Just wondering what's stopping them. Thoughts anyone? Cheers, Letsgo
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If you mean:
this:
is on the Redundancy screen.
Detailed policy information to support the redundancy process will be available on 15 Feb 11 and will be published via the Manning Website and Airspace.
As soon as the new RAF DIN outlining Redundancy has been given release authority it will be published on this page
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Mr C - exactly. Our assumption at work is that the 'detailed policy information' is the DIN that is being referred to in your second quote.
So the question remains, where is it and why hasn't it been published when they said it would be?
So the question remains, where is it and why hasn't it been published when they said it would be?
How long until X-factor or similar starts again?
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It was certainly available if you went direct to the DIN listing for 2011 at about 1530hrs yesterday. The Sqn has been a hive of activity ever since with people crunching the numbers!
The good news is that the problem with reduced redundancy payments from 1st Apr 2013 has been deferred till 1st Jan 2016.
The good news is that the problem with reduced redundancy payments from 1st Apr 2013 has been deferred till 1st Jan 2016.
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The good news is that the problem with reduced redundancy payments from 1st Apr 2013 has been deferred till 1st Jan 2016.
and Bravo Zulu for the Staff Officer(S) or Senior Civil Servant(S) that negotiated that.Or is it a defacto certainty that everybody above the rank of "Sqn Shag" has automatically gone over to the Dark Side?
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It looks like anyone who has served more than 12 years but less than 16 will have to wait until 60/65(?) years for their pension, unlike the previous redundancy scheme which gave an immediate pension as a fraction of the years served (e.g 12/16th), paid immediately on redundancy.
Quite a loss!
Quite a loss!
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That's a hell of a hit for a 34 year old 15.5 year served man if that is the case. It'll affect, potentially and probably, a good percentage of those to be targetted.
They've done well for themselves there if it is the case. Rotten barstewards.
They've done well for themselves there if it is the case. Rotten barstewards.
But equally, those that have managed to pick up and have an option point at 44 could be quids in if they have already passed their 16/38 point. Unless I have mis-understood it, they would get their immediate pension and qualify for a redundancy payment based on how many years they had served and how many years they had left to do until their option date.
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Please be gentle with me, I'm hoping not to go and thought that they only paid you for what you had served, not for what you had signed on for. I'm not up to speed on this - I should be I know - do they pay something for the years left on your engagement?
I assumed it was a straight payment on "what you'd done" and that was it.
Naive and ill informed I know, but I really don't know what is being said on this thread.
Education please - if I'm sacked (made redundant), apart from the 9 months pay and immediate pension, do I get more? I'm a bit isolated overseas and maybe a bit stupid too so info would be super.
I assumed it was a straight payment on "what you'd done" and that was it.
Naive and ill informed I know, but I really don't know what is being said on this thread.
Education please - if I'm sacked (made redundant), apart from the 9 months pay and immediate pension, do I get more? I'm a bit isolated overseas and maybe a bit stupid too so info would be super.
Years to do
Scuttled,
If you have less than 4 years to do your max payout will be limited to 3/4 of your "final relevant earnings" (I assume that's what's in your paypacket over your last 12 months' service - less specialist pay). Less than 3 years 1/2 of FRE and so on.
If you have less than 4 years to do your max payout will be limited to 3/4 of your "final relevant earnings" (I assume that's what's in your paypacket over your last 12 months' service - less specialist pay). Less than 3 years 1/2 of FRE and so on.
Scuttled,
There are people on here who know far better than I do, and I'm pottering around at home so don't have the DIN to hand. But, IIRC, it is based on both how much time you have done and how much you have left.
Time served in years x redundancy rate (based on how long you have left) = your redundancy payment.
If you have passed an immediate pension point, you get the redundancy payment on top of the pension and gratuity. If you have yet to hit your IP point but have done enough time you get a resettlement grant on top of the redundancy and I think a preserved pension which becomes payable at 60-ish. Outside of that, I don't think you qualify for anything other than the redundancy.
So there is probably a point at which it becomes too expensive to sack you because of the up front costs they will need to pay out. Without doing the maths, I have heard that if you have 4-5 yrs to run i.e have a reasonable amount of time under your belt and a couple of tours to go, it becomes quite costly for them to get rid of you as that redundancy rate mentioned about is quite high.
There are people on here who know far better than I do, and I'm pottering around at home so don't have the DIN to hand. But, IIRC, it is based on both how much time you have done and how much you have left.
Time served in years x redundancy rate (based on how long you have left) = your redundancy payment.
If you have passed an immediate pension point, you get the redundancy payment on top of the pension and gratuity. If you have yet to hit your IP point but have done enough time you get a resettlement grant on top of the redundancy and I think a preserved pension which becomes payable at 60-ish. Outside of that, I don't think you qualify for anything other than the redundancy.
So there is probably a point at which it becomes too expensive to sack you because of the up front costs they will need to pay out. Without doing the maths, I have heard that if you have 4-5 yrs to run i.e have a reasonable amount of time under your belt and a couple of tours to go, it becomes quite costly for them to get rid of you as that redundancy rate mentioned about is quite high.
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The Royal Navy have ringfenced IPP minus four years as safe. I have not heard of the RAF & Army following identical lines but I would hope that the precident has been set. Therefore if you have served 18 years of a 22 year pensionable engagement, you will be safe from redundancy if in the Navy, and 'should' be safe if in blue or green.
Tiger Mate, that would fit in with what I had heard - note heard not been officially told - as I think that 4 year to run point is where they have to pay you something like 1.5 months pay per year served and are faced with large up front costs. Not ideal when you're trying to save money now, and a PR disaster in the making if how they have handled recent events is anything to go by.
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Melchett01
Many thanks, all understood. Last question, the figure talked about is 9 months pay. Is that the capped maximum sum? If it were not capped, many of us would be far too expensive to let go......
Many thanks, all understood. Last question, the figure talked about is 9 months pay. Is that the capped maximum sum? If it were not capped, many of us would be far too expensive to let go......
