You liked our previous ‘Question of the Week’ series so much that we thought we would offer up a handful more in the run-up to Christmas.
Here’s the first for you on timing of retirement, and EDP.
I have been in RAF since 2007 and I am signed on until the day before my 40th birthday in 2028. Because I leave the day before my 40th bday, does that mean I’m not entitled to the EDP payment lump sum?
By convention, if your last day of service is the day before your 40th birthday then retirement is deemed to start from age 40, which is one of the requirements to secure an Early Departure Payment (EDP). You will also be required to serve for a minimum of 18 years (AFPS05 EDP) or 20 years (AFPS15 EDP) to qualify. So, in short, yes, you will qualify for EDP, if your last day of service is the day before your 40th birthday, BUT you must have served for more than 18 years (05 scheme) or 20 years (15 scheme).
More to come next week!