Do you continue to receive money and benefits after retiring from the military?

Not the 401K.



After 20 years of service one can retire from the military. Will they continue to receive like 70% of what their monthly salary even after retiring?

Do you continue to receive money and benefits after retiring from the military?At 20 years you will receive 50% of just your base pay. You will also receive health care and numerous other benefits you had while active duty. It's almost like you are still in the military except you don't have to wear a uniform and you don't have to work or answer to anybody...except for your wife. lol.Do you continue to receive money and benefits after retiring from the military?
Hi,



Yes. If you can do 20 years of active service, then you can expect 50% of your base pay as retirement . With the High-3, your retirement will be based on the 50% of the highest base pay in the last three years. For each extra year you stay in the military after 20, the percentage of retirement goes up 2.5%. If you do retire after 22 years, you can expect approx 55%.



As for the base privileges, you still have that access to the BX and commissary and clubs, etc. For the medical and dental, it depends on what you select at retirement to either keep Tricare or move onto something else...but you will have to pay a small premium to maintain it after retirement...much smaller than out in the civilian health care system.



Hope this helps. I'm was going to retire next year (24) but am staying in a little bit longer to wait out this economic mess.

Do you continue to receive money and benefits after retiring from the military?Upon retirement you get a pension which amounts to 50% of your last monthly basic pay, plus 2.5% for each additional year over 20 years. Each year thereafter you receive a cost of living raise (COLA) the same as social security recipients receive. Additionally you receive lifetime medical insurance which covers 75% of medical expenses. It is advisable to purchase a secondary insurance to cover the remaining cost. Prescription drug coverage is also provided. Military pharmacies provide many drugs free of charge, if available. If not available, prescriptions may be obtained at civilian pharmacies for a copay of between $3 and $9, with more expensive ones having a higher copay of $22. A great option for prescriptions not available at military facilities is the Express-Scripts mail-in program from which you can get a 90 day prescription supply for a one month copay.



Chief Petty Officer

U.S. Navy, Retired
Retiring from the active force will get you 50% of your basic pay, with an additional 2.5% for every year thereafter to a maximum of 75% at 30 years. You also receive a military ID for base access, all base shopping privileges, free medical care at military treatment facilities on a space available basis and a low cost health plan for treatment in civilian facilities. Do you continue to receive money and benefits after retiring from the military?No. There are three different systems for calculating your retirement, depending upon when you enlisted. None of these will get you 70% after 20 years.



To simplify it, you can get 50% of your base pay after 20 years. This goes up by 2.5% for each additional year you stay on active duty. The difference being how your base pay is calculated.



Military retirement pay is a nice bonus, but it's not gonna make you rich.Do you continue to receive money and benefits after retiring from the military?
A military person will recieve a retention referred to as retirement pay which is anywhere from 30-50% at the 20 year mark. Keep in mind a typical miltiary member recieves more than half their paycheck from benefits such as housing and cost of living that are not calculated in this. Not everyone can retire!!!
Retirement pay after 20 years, paid according to your rank at the time of retirement you get a percentage at retirement and a raise each year there after, you also get med. benefits at a reduced rate and have the G.I loan to buy a house, in Cali. if you enlisted from here you can buy a home on a Cal-Vet loan, but you have to live in that house or sell it you cannot rent it out. Do you continue to receive money and benefits after retiring from the military?
It depends on whether you retire as active or reserve. You get it for both but for active I think you can get it once you're forty. For reserves I think it's sixty..something like that. Alsom retiring active gives you more pay than reserves bc you were making more (obviously) while on active.
At 20 years you only get 50% of your base pay.



So it is like 1/4 of your regular pay.



As an Active duty retiree, you get your pension immediately.



As a reserve-retiree you wait until you rutnr 60 then you may get your pension.
You will receive up to 50% of your Basic Pay as Retirement Pay (for some it is 40%). You can then receive up to 100% disability Pay as well depending on what you are considered.
Its more like 50% at twenty it goes up every year after that and the Benefits are good if you live close to a base the PX/BX is nice to have