Skip to main content

Early Retirement And Redundancy

Volume 264: debated on Thursday 19 October 1995

The text on this page has been created from Hansard archive content, it may contain typographical errors.

To ask the Secretary of State for Defence what was the cost of early retirement and redundancy packages for armed forces personnel for each of the last 10 years. [37781]

During the period from the financial year 1984–85 to 1991–92 there were only a small number of armed forces personnel who left the service on redundancy. The costs incurred would have been relatively minor and are not separately identifiable from the overall pension totals.

The "Options for Change" redundancy programme began in financial year 1992–93. In that year, redundancy payments of £232 million were made. In 1993–94 and 1994–95 the payments totalled £509 million and £453 million respectively.

These payments include special capital payments, and early payment of terminal grants, commuted pension payments and the first year's payment of immediate pensions.