Special And Incentive Pay
Special and incentive pay provides extra compensation for less-desirable, higher-risk, or more-specialized work. It may mean serving as an aviation officer or on submarine duty. It could also mean serving in a location with a low standard of living . Hostile fire pay and imminent danger pay compensate service members for risks such as being shot at or encountering a mine.
It’s Not A Financial Decision
Of course, I would never recommend someone join the military for the financial benefits. The unique hassles of the military such as going through the military match, dealing with military bureaucracy and hospital rank structure, not having control over where you live, and the frequent deployments cannot be compensated for with money. Only a true desire to serve your country and those who put their lives on the line for you and your loved ones each day can compensate you for that. There are also a few people who want to do something in medicine that you can only do in the military-flight medicine, dive medicine, working with the special forces, being the President’s doctor etc. In the end, this decision should be made based on the prospective medical student’s desire to be in the military and not the financial ramifications.
For a realistic view of the HPSP scholarship, some alternatives to it, and life as a military physician, visit this forum.
Help With School Fees And Childcare Costs
If you are currently serving in the Armed Forces, you may be able to claim an allowance to help pay for your child’s boarding school fees. You can get more information from the Children’s Education Advisory Service. Their contact details are:
You can buy childcare vouchers to pay for the care of your child. As these are free from tax and national insurance, you can make big savings on the cost of childcare. If you register for the Armed Forces childcare voucher scheme the cost of the vouchers is taken from your pay every month. The vouchers can be used to pay for nursery care, summer camps for teenagers, boarding school fees and many other childcare costs.
You can find more information and application forms on childcare and school fees on the Ministry of Defence Childcare website at: www.modchildcare.co.uk.
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Submit Your Application 4medical Exam
You will then take a two part medical exam: First there is a questionnaire on your medical history including specific information on your medication. Then the medical staff will conduct a physical exam to measure your height, weight, evaluate your vision, colour perception and hearing. The second step is a medical file review to determine any limitations that will affect your training and career.
Submit Your Application 5interview
The next step is an interview with a military career counsellor it is your official job interview and a very important step. The application process is very competitive and you will be asked questions about your work history, knowledge of the Canadian Forces, and understanding of the job you selected.
Joining the Canadian Armed Forces
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Combat Zone Tax Exclusion
One of the biggest pay bumps can come from working in a combat zone. Under the Combat Zone Tax Exclusion, many service members will not pay any federal income tax for the whole month if they serve as little as one day in a combat zone. This tax exemption also applies to special pay and bonuses received while serving in a combat zone. You will still pay Social Security and Medicare taxes.
Serving in a combat zone also allows you to contribute up to four times the usual annual limit to your thrift savings plan . That means you can sock away $58,000 for retirement in 2021 . You can make your contributions go further by contributing up to $19,500 of that $58,000 to a Roth TSP .
Whats The Cost Of War For Russia And What Could Be Done With This Money
Hostilities in Ukraine are now in their third month. At the time of my calculations, day 65 is underway. The war is an endless horror: according to the latest UN figures, it has claimed the lives of 2,899 civilians, military casualties are probably in the tens of thousands .
Destroyed cities, millions of refugees. And a paradoxical fact that defies comprehension: enormous sums of money are spent daily on this mass murder that could have been spent on solving social problems. This money could have been invested in the prosperity of both countries, but now Vladimir Putin has invested it in destruction.
In fact, what sums are we talking about? Kyiv, according to estimates of the Ukrainian Ministry of Finance, spends $10bn a month on the war. Of course, this money could also be put to better use, but it should be understood that the Ukrainian side was forced to spend it: it had no choice whether to go to war or not.
But for Russia, which initiated the war, such spending was a conscious choice. And that is why it is the expenditure of the Russian budget on the special operation that can be evaluated in terms of the best use of money.
A rough calculation shows that for one day of war Russia can spend about $223.5m or 15.8bn rubles.
- The arithmetic average of all these figures is $6.9bn. This is 483 billion rubles per day.
So, what problems could have been solved by spending 31 trillion rubles?
31 trillion rubles is the equivalent of:
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Membership Into One Of The Worlds Oldest Clubs
Being a military veteran makes you an automatic member in one of the worlds oldest clubs. It is easy to share stories and recollections with other members of this special group of people and can help you gain acceptance, join clubs, find employment, and gain other benefits. Being a veteran is something no one can ever take away from you.
How Much Does It Cost To Train A British Army Soldier
Accommodation, manpower and ammunition costs are all considered in the latest figures released by the Ministry of Defence.
The UK has revealed how much it costs to train a soldier in the British Army.
New figures released by the Ministry of Defence show the cost per individual going through basic training at the Army Training Centre in Pirbright.
It comes shortly after it was confirmed the Army is set to meet its recruitment target for the first time since working with Capita.
19th February 2020
The course at the Army Training Centre is 14 weeks long – the shortest basic training course for regular soldiers.
The average cost of basic training for a soldier who passes is just over £38,000, with that cost being made up of the following, per trainee:
Manpower: £16,200 This is the most costly expense to the British Army when transforming recruits into soldiers, and is described as “direct and indirect manpower costs” for both military and civilian staff.
Trainee salaries: £9,000 The second-largest outlay is paying the trainees themselves. Each Army recruit undergoing basic training course in Pirbright earns £9,000.
Infrastructure: £8,000 The third largest cost per trainee soldier goes towards their accommodation and training facilities.
Other outlays include £1,900 on clothing for recruits, administration costs of £1,800 and £800 on infrastructure.
6th February 2020
Cover image: Crown Copyright.
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Joining The Military: What You Should Know Before Committing
Joining the military is a big commitment, not to be taken lightly. Most first-term enlistments require a commitment to four years of active duty and two years of inactive . But the services also offer programs with two-, three- and six-year active-duty or reserve enlistments. It depends upon the service and the job you want.
Advantages & Disadvantages Of Joining The Army
Many people currently consider joining the army.
While there are many advantages to joining the army, there are still some important problems related to it.
Hence, if you are one of those persons who consider joining the military, make sure to check out all the pros and cons of joining the army that are discussed in the following article.
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Military Retirement Benefits Are Worth Millions
Its not an exaggeration to say military retirement benefits are worth millions of dollars.
Military members receive a lifetime pension based on the average of their highest three years of base pay. Military retirees who are in the High 3 Retirement System receive 2.5% of their base pay for each year of service. So 20 years of service would equate to a pension worth 50% of their highest 3 years of base pay .
Members who are participating in the new Blended Retirement System use the same calculations, except that you would use a 2.0% multiplier instead of 2.5%. So a retirement at 20 years would be 40%, 25 years would be 50%, and 30 years would be 60%. However, there are two big additions: the first is matching TSP contributions of up to 5% of your base pay, allowing you to have portable retirement benefits when you leave the military, even if you dont reach retirement. The other is a Continuation Pay Bonus, which is a mid-career cash bonus for extending your service commitment.
Example retirement value:
Enlisted members earn somewhat less than commissioned officers. However, their pensions are based on the same formula and receive the same cost of living increases each year. So you can easily run the numbers and get a rough approximation of potential retirement benefits. For example, a $2,500 a month pension is worth $30,000 per year. That would be worth $300,000, $600,000, or $900,000 over 10, 20, or 30 years.
Learn more about retirement benefits:
Limit Your Interest With The Servicemembers Civil Relief Act
The Servicemembers Civil Relief Act is for any military members who took out student loans out prior to joining. They provide a cap on interest rates while you serve on active duty and this applies to both federal and private loans.
The loan mustve been disbursed before you started active duty. The interest rate cannot exceed 6% and this can bring significant savings, especially with private loans.
How to apply for SCRA:
Submit a copy of your service orders to have this applied to your loans
- Wait until your loan servicer applies the cap through checks of the military database
This is helpful for anyone who wants to join the military after youve finished your education. It can keep your payments low and cap the amount of interest you need to pay back.
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Should I Join The Military 11 Reasons The Military Is A Good Career Option
Advertiser Disclosure: Opinions, reviews, analyses & recommendations are the authors alone. This article may contain links from our advertisers. For more information, please see our .
Have you ever thought about joining the U.S. Military? If the answer is yes, then read on. These benefits of joining the military may be enough to persuade you to take the leap. If you havent considered joining the military, then treat this article as a primer for some of the benefits which may be available to you if you decide to take that next step. And the benefits can last a lifetime!
You Can Meet Many Like
Another benefit of joining the military is that you will also meet many like-minded people.
In general, joining the army is sort of a self-selective process and only people who really want to make a positive impact on their country will do so.
Hence, by joining the military, you can be sure that you spend your time with like-minded people who share similar attitudes towards life with you.
In turn, chances are that you will also have a great time in the military since you will feel like a valued member of the military community.
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Keep Your Finances Under Control By Utilizing These Resources
Yes, being in the military involves sacrifice, but you do have benefits in return for that sacrifice. Take the time to learn all you can about your potential military financial, educational, tax and housing benefits. Research these benefits carefully, and apply for those that you qualify to receive. After all, you earned or are earning these benefits with your service. Make sure you are getting the full amount you deserve.
You Will Have A High Social Status
Another upside of joining the army is that you can also attain a quite high social status.
In fact, many people in our society will be quite thankful that you defend their country and will value your sacrifices quite a lot.
In turn, your overall social status will be quite high and joining the military will often also make you more attractive to the opposite sex due to this high social status.
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Meet People From All Over The Us
The United States is a huge country, and the people that encompass it differ greatly depending on where theyre from.
When you join the military, youll meet people from big cities and towns of a few hundred.
People from the country, people from the suburbs. Some people that grew up poor and others that grew up rich.
The Army Provides You With A Safe Salary
Another advantage of joining the military is that you will also be paid in time.
In fact, you can be sure that you will get paid according to your military contract since the government will back military expenses and there will be no risk for bankruptcy.
In contrast, if you work in the corporate world instead, you cant be sure that you will actually get paid in time, especially if the company you currently work for experiences financial difficulties.
Hence, the safe salary is another plus related to joining the army.
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See What Youre Made Of
The military has a limitless amount of challenges if pushing yourself physically and mentally interests you.
There is a myriad amount of schools that you can sign up for, like Airborne School, Air Assault School, or even Ranger School.
Lower Your Payments With Income
Apply for an income-driven repayment plan while youre on active duty so that you wont pay more than necessary in comparison to your income. These plans could bring your payments down to as little as $0 per month.
The Heroes Act Waiver is also there to help, because youre not required to submit proof of income while in active duty. That means you can maintain low payments even if your income increases.
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The Cost Of Military School Vs The Cost Of Living At Home
It is important to factor in the savings you might realize from enrolling your child in a military school. Yes, its true, having your child away at military school might actually save you some money each year!
As the father of one of our students told me recently:
I added up how much military boarding school was going to cost me, but I forgot to figure in how much I was going to save by not having to feed my son every day, buy him new clothes when he wanted them, put gas in his car, pay his monthly cell phone bill, and more. The savings really added up.
According to the U. S. Department of Agriculture, the average family spends at least $12,980 per year on a childs expenses such as food and clothing. When you total up the costs of a military school, dont forget to add up the cost savings as well.
Disadvantages Of Joining The Military
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Complex Work And Life Balance
Balancing work and life is a challenging task for many people.
However, if you are in the National Guard, you face another challenge with your scheduling.
Those in the National Guard attend training one weekend a month and two weeks out of the year.
This obligation leaves you to work around your training weekends when you want to schedule your downtime with family or friends.
How Much Do Japan And South Korea Normally Contribute
The United States has negotiated agreements with both Japan and South Korea that lay out the details of the cost-sharing arrangements with each country.
The specific amounts contributed, as well as the activities that each state covers, vary by country and over time. However, the contributions of U.S. allies typically are substantial.
For example, in 2019, the U.S. and South Korea negotiated an agreement calling for South Korea to contribute approximately $893 million.
Japans current agreement doesnt provide a clear statement on total contributions. However, Japans current support amounts to approximately $1.7 billion.
By comparison, the Department of Defense currently estimates the total cost of maintaining the U.S. presence in South Korea and Japan at $4.5 billion and $5.7 billion, respectively.
Accordingly, both countries contributions amount to a substantial percentage of these total price tags.
Importantly, these figures provide only a rough picture of the financial relationship between the host country and the U.S. related to defense. For example, the figures for Japan do not reflect other transfers, like Japanese purchases of U.S. weapons systems, free rent and tax waivers, and other expenditures taken on by the Japanese government.
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