Wednesday, 2 April 2008

Armed Forces Benefits & Pension Calculator

The Ministry of Defence has launched a new version of its online Armed Forces Benefits & Pension Calculator (ABC). The facility provides service personnel with an "indication" of the value of their benefits and likely pension. After the input of an individual's service profile, the calculator displays salary, operational allowance, travel allowance, health and medical allowances, education credits, accommodation subsidy, etc.; the annual contribution made by the MoD to the service pension is also shown. The serviceman can therefore get a good idea of his total financial package.

In addition to providing advice and guidance on the whole range of benefits and subsidies available to service personnel, the ABC website also has links through to other sites which provide general financial help; the Financial Services Authority's websites Money Made Clear, Financial Healthcheck, Debt Test, Budget Calculator are all available directly from ABC as are sites providing advice on insurance, mortgages and loans. All together this looks like a useful resource which is available to service personnel wherever they are based.