New retention payments announced for thousands of Armed Forces personnel
22 November 2024
Thousands of Armed Forces personnel are to receive new retention payments in a bid to boost recruitment and retention.
The payments, which will be worth up to £10,000, will be available to personnel who sign up for an additional three years of service.
The move comes amid concerns about the number of personnel leaving the Armed Forces, with the Royal Navy and Royal Air Force particularly badly affected.
Defence Secretary Ben Wallace said: “Our Armed Forces are the best in the world, but we need to make sure we are doing everything we can to attract and retain the best people.
“These new retention payments will help us to do that by providing a financial incentive for personnel to stay in service.”
The payments will be available to all personnel who are within three years of their end of service date. They will be paid in two instalments, with the first instalment being paid after one year of service and the second instalment being paid after three years of service.
The payments will be tax-free and will not affect personnel’s pension entitlement.
The move has been welcomed by the head of the Armed Forces, General Sir Nick Carter.
He said: “These new retention payments are a welcome recognition of the importance of our personnel.
“They will help us to retain the best people and ensure that we have the Armed Forces that we need to protect our country.”
The retention payments are part of a wider package of measures that the government is introducing to improve the Armed Forces.
Other measures include:
- Increasing the number of personnel by 5,000
- Improving the pay and conditions of personnel
- Investing in new equipment and infrastructure
- Increasing the number of female and ethnic minority personnel
The government is also working to improve the image of the Armed Forces and to make them more attractive to potential recruits.
New retention payments announced for thousands of Armed Forces personnel
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