ADF personnel in line for $50k bonus to stay in uniform

May 02, 2023 01:18 PM AEST | By AAPNEWS
 ADF personnel in line for $50k bonus to stay in uniform
Image source: AAPNEWS

Australian Defence Force personnel could be up for a $50,000 cash bonus under a federal government push to expand the size of the nation's military. 

The Albanese government will set aside $400 million for retention bonuses to help reduce the thousands of personnel leaving the armed forces. 

Permanent ADF members will be eligible to receive a $50,000 bonus payment near the end of their initial mandatory period of service if they commit to the military for another three years.

Under the scheme, 3400 personnel will be able to benefit within the first three years.

The bonus will not be tax-free and there will be a pro-rata clawback for members who leave early. 

Defence Personnel Minister Matt Keogh said the rationale for the up-front payment was to provide a real value the member and their family can use.

He said adjusting the bonus to pay scales wouldn't provide the same incentive.

It is modelled off other bonus schemes within the force. 

"Having a lump sum of this nature does create that incentive for someone to sign on for the additional three years so that we don't have a loss of people after that initial service period," Mr Keogh said in Canberra on Tuesday.

"So if they want to put that money towards a housing deposit, or a new car or whatever it is they need in their family, that gives them a lump sum they are able to access to do that."

But RSL Australia wants more money to help veterans.

National president Greg Melick said the upcoming budget needed to reflect the continued contribution veterans made to communities and to the nation.

Mr Melick is calling for non-liability health care for mental health treatment to be extended to reservists and better access for veterans to appropriate and timely care.

"We are looking for a commitment to demand-driven funding to support veterans' welfare, rather than having to fight for funding each budget year," he said.

The government has identified the ­recruitment and retention of personnel as an immediate priority, in response to the defence strategic review. 

But frequent postings uprooting families to different regions across the country and a lack of career and employment opportunities for military spouses are among the biggest issues for personnel.

A $2 million review of defence housing will also take place to help improve home ownership rates among serving personnel.

Defence Minister Richard Marles said the government was working to make the force more attractive to Australians. 

"We need to be telling the story to young Australians about the opportunities that exist in working in the defence force and pursuing a career in uniform," he said. 

"They're making a difference and serving our nation."


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.