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RN to RAN wait for 22yr?

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RN to RAN wait for 22yr?

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Old Sep 29th 2008 | 11:32 pm
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Default RN to RAN wait for 22yr?

Hi

My partner Mick has applied to join the RAN as a submariner, and we have just returned from a hol/reccie to Sydney and Perth, we met up with a RAN CPO and his partner in Perth who showed us around Stirling base, C class submarine, suburbs and MQ and answered a lot of questions we had truthfully.
We loved it there.

Problem - do we carry on and go for it now or do we wait until Mick has done his 22yr and get his pension, he has done 15yrs so far. The CPO said the RAN will still be here if we wait for his 22yr, (but will they still be taking on then)

If anyone can give us advice or done either I would be grateful for your views
 
Old Sep 29th 2008 | 11:45 pm
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Default Re: RN to RAN wait for 22yr?

It's another 7 years so it depends on what you have going on or plan on having go on in that time.

To finish after 22 with 1/2 pay makes for a solid financial cushion, IIRC if he finishes now then you get no pension till 60?

Bear in mind that notice period is 18 months (?) so you are going to be on 16-17 years before you get out, starts to make keeping to 22 look attractive.

Is the pension taxed here or in Oz? may also make a difference.

Financially you are probably better off doing the 22 but it's all the other factors in that time you need to weigh it against.

best of luck
 
Old Sep 30th 2008 | 12:11 am
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Default Re: RN to RAN wait for 22yr?

Originally Posted by steve_and_gill
It's another 7 years so it depends on what you have going on or plan on having go on in that time.

To finish after 22 with 1/2 pay makes for a solid financial cushion, IIRC if he finishes now then you get no pension till 60?

Bear in mind that notice period is 18 months (?) so you are going to be on 16-17 years before you get out, starts to make keeping to 22 look attractive.

Is the pension taxed here or in Oz? may also make a difference.

Financially you are probably better off doing the 22 but it's all the other factors in that time you need to weigh it against.

best of luck
I came over to the Aus army after 20 years. I could have waited and got my pension but decided that living in Aus was more inportant than the money. I will get my UK Army pension when I'm 60.

In my case it has worked out well, I'm having a great time and despite some frustrations with work, it's great.

Only you and Mick can decide if the course you choose is the right one.
 
Old Sep 30th 2008 | 12:22 am
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Default Re: RN to RAN wait for 22yr?

Originally Posted by handbagmad
Hi

My partner Mick has applied to join the RAN as a submariner, and we have just returned from a hol/reccie to Sydney and Perth, we met up with a RAN CPO and his partner in Perth who showed us around Stirling base, C class submarine, suburbs and MQ and answered a lot of questions we had truthfully.
We loved it there.

Problem - do we carry on and go for it now or do we wait until Mick has done his 22yr and get his pension, he has done 15yrs so far. The CPO said the RAN will still be here if we wait for his 22yr, (but will they still be taking on then)

If anyone can give us advice or done either I would be grateful for your views

Hi Handbagmad,

In the papers here about 2-3 weeks ago Kevin Rudd (PM) stated the RAN has 13,000 personnel and still can only manage to fully crew 2-3 of their 6 Submarines, how true this is I don't know but he is a politician and we all know how well they tell the truth
I'm an ex Submariner left in 2005 after time served but now working in the Construction Industry in Perth, I am in contact with a submariner who lives in Port Kennedy about 40km's south of Perth and he is based at Garden Island, he also finished his time in the RN, he is ex HMS Vigilant/Valiant and i think his last boat was Vengeance, he has been over here for about 15 months now and i believe he had to sign up for 3 years but he is at Sea at the moment. I will be in contact with him in the very near future, as has been said do you weigh up the pros and cons ? 7 years will fly past (I know mine did) The pension will come in handy but i'm not sure how it work's if Mick completes his 22yrs.
If you would like his email address just pm me (Safe Guard 2 Clips 2 Pins), I'm sure he will be able to put you in the picture with his views from a very fresh ex RN Submariner.

Good Luck

John
 
Old Sep 30th 2008 | 2:53 am
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Default Re: RN to RAN wait for 22yr?

Hello

I join the Ran in 7 weeks, going to Sydney. I've served over 23 years in the Navy and on my terminal leave now. I had the chance to go over 4 years ago but that would have meant for the sake of a couple of years giving up on my pension/graturity.

Everyone is different but i saw that as too much money to effectively give away.

My mate joined 3 years ago and it seemed to be a rare thing then, now a days everybody you talk to is going or knows someone who's in the process.
 
Old Sep 30th 2008 | 8:49 pm
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Default Re: RN to RAN wait for 22yr?

Hi
Thanks for all your replies,

We both think money isn't everything, but we have to be realistic about how much money we are losing as we can re-apply in 6 years to the RAN.

Wait to see what the pension projection forecast is
 

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