Redundancy in Armed Forces | Income Protection | Unemployment Covers

Royal Navy's First Round Of 5,000 Redundancies Begin

As per the latest news from the Government, more than 1,000 Royal Navy personnel will be made redundant as part of the first round of cuts. Earlier this year, the government announced that by 2015 about 22,000 Armed Forces personnel will be made redundant. This is part of the exercise to cut costs of £5 Billion.

While about 810 sailors have applied for redundancy, of which 670 has been accepted, about 350 will be made compulsorily redundant totalling to 1,020 job losses. Earlier this year, Royal Navy announced that they will be cutting about 5,000 staff by 2015. Apart from this the Ministry of Defence will also shedding over 25,000 jobs in the next four years. 

It is really sad that people who agreed to lay down their lives for the country are being let down and the low morale in the Armed Forces is completely understandable. While the Government is pointing fingers at the Ministry of Defence decisions, regardless of the reasons, it is a sad moment to see brave and selfless people being put out of their jobs. 

While many of the job cuts in the coming years is expected to be met with decrease in recruitment and not replacing the ones who leave, a few more rounds of painful redundancies cannot be ruled out.

Stuart Boseley, Director of Best Insurance commented and said that economic challenges means tough decisions and while it is painful and the Government has to take tough lessons, we hope that the lessons learnt are not forgotten over the next few years when the economy recovers. He also added that one of the challenges for the personnel who work in the Armed Forces is that insurers do not accept them for the insurances such as income protection insurance or payment protection insurance and unfortunately these people have to depend on government and job seekersí allowance until they find jobs. The employment market is very tough and with unprecedented number of people unemployed, finding jobs is not going to be easy. One only hopes that the redundancy packages are generous enough to give the people who have been made redundant some space to find a job they enjoy and ensure a smooth transition from the lifestyle of Armed Forces to the civilian life. 

Best Insurance is one of the largest income protection and payment protection insurers in the UK and has access to a wide range of protection products. The unemployment insurance and redundancy insurance covers provide several options for the customers and the trained advisors assist the customers in making the right selection. 

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