Ministry of Defence
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Armed forces benefits calculator launched
The MOD has launched an internet-based Armed Forces Benefits Calculator (ABC) to make it quick and easy for Service Personnel to assess the total value of their full employment package.
The ABC incorporates basic pay, specialist pay, individual
allowances, pension and other MOD provided benefits to give an
estimate of the package's financial worth. The Calculator
will also be made available to potential recruits keen to
investigate the type of reward package that might be available
should they choose to join the Armed Forces. The Armed Forces
Benefits Calculator can be viewed at http://www.mod-abc.co.uk.
Derek
Twigg, Under Secretary of State for Defence, said:
"Our Service Personnel receive an excellent remuneration package which is fully deserved for the outstanding contributions they make in the UK and overseas. The new Armed Forces Benefits Calculator makes it easy for our troops to see the full worth of the benefits available to them."
Vice Admiral Peter Wilkinson, Deputy Chief of Defence Staff (Personnel), said:
"The Armed Forces Benefits Calculator is an exciting and innovative project which I am confident will show all who use it just how competitive our remuneration package is."
As an example of the ABC, a Lance Corporal living in Single Living accommodation who expects to go on one 6-month operational tour in the next 12 months could have a total benefits package of:
Salary £20,449
Operational Allowance (182 days) £2,380.56
Longer Separation Allowance (182 days) £1,769
Subsidised Accommodation £425
Medical Care £240
Dental Care £240
Health and Fitness facilities £240
Free eye tests £17
Prescriptions £13
Standard Learning Credit (see note 2) £175
Enhanced Learning Credits (see note 2) £2,000
Estimated annual employers' contribution to pension £3,967.11
Total £31,915.67
Through the ABC, Service Personnel can also access information on pay and allowances, financial education and financial products aimed specifically at Service Personnel. The ABC website also has links to websites for the Financial Services Agency and the Defence Discount Directory.
Notes to Editors:
1. The Armed Forces Benefits Calculator uses the latest Armed Forces pay scales announced in February which come into effect today (1 April). Details of these scales are available at http://www.mod.uk/DefenceInternet/DefenceNews/DefencePolicyAndBusiness/PayRiseForEveryoneInTheArmedForces.htm
2. Standard and Enhanced Learning Credits are not finite amounts and depend on the amount individuals claim back.
3. The Armed Forces Benefits Calculator was designed in conjunction with employee benefits consultants, Thomsons Online Benefits.
