HC Deb 10 March 1980 vol 980 cc466-7W
Mr. Churchill

asked the Secretary of State for Defence how many years' reckonable service is required for an officer in the Armed Forces in the rank analogous in terms of salary to an hon. Member to achieve a full pension; and what proportion the pension would be of final salary.

Mr. Speed

All officers of the Armed Forces of whatever rank qualify for the maximum rate of retired pay for their rank after completing 34 years' reckonable service—that is excluding service before age 21. This retired pay is 50 per cent. of final pensionable salary. In addition, officers receive a tax free terminal grant of three times the annual rate of retired pay as part of their pension benefits.