Armed Forces: Loans and Personal Savings

(asked on 12th November 2018) - View Source

Question to the Ministry of Defence:

To ask the Secretary of State for Defence, how many (a) service personnel and (b) veterans have received payroll and pension deductions for the purposes of savings and loans in each of the last five years.


Answered by
Tobias Ellwood Portrait
Tobias Ellwood
This question was answered on 20th November 2018

The table below shows the number of Service personnel and veterans who have deductions from payroll or pensions for savings and loans through the Armed Forces Credit Union since November 2015, when it became possible to do so. The facility for veterans to have deductions taken from pension payments has only been available since 2016.

2015

2016

2017

2018

Service personnel

240

1,220

3,120

4,590

Veterans

N/A

4

9

9

Yearly Total

240

1,224

3,129

4,599

Please note the 2018 data is provided up to 31 October 2018, and individuals may have deductions taken in more than one year.

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