Five senior defence officials are sitting on ‘gold-plated’ pension pots worth more than £11 million while soldiers are forced to go without vital kit and live in mould-infested homes.
Amid repeated warnings about equipment shortages and a crisis retaining recruits because of dire housing conditions, Armed Forces bosses have seen the size of their pension pots soar by up to 50 per cent.
Analysis by the Mail reveals that Admiral Sir Tony Radakin, the head of the Armed Forces, has a pension pot worth a staggering £4.5 million.
It is thought to be the biggest public sector pot ever and means he’s in line for a £470,000 cash sum upon retirement and an annual income of £200,000.
There was a massive £740,000 jump in the valuation of the 57-year-old’s pot for 2023/24, compared to the previous year.
Analysis by the Mail reveals that Admiral Sir Tony Radakin (pictured), the head of the Armed Forces, has a pension pot worth a staggering £4.5 million
Amid repeated warnings about equipment shortages and a crisis retaining recruits because of dire housing conditions, Armed Forces bosses have seen the size of their pension pots soar by up to 50 per cent (Stock image)
It is on top of his £295,000-£300,000 salary, which was also hiked by as much as £20,000. By contrast, the starting salary of a newly recruited soldier is around £25,000.
Sir Tony’s former deputy, General Gwyn Jenkins, has a pot worth nearly £3 million – up from just over £2 million in a year.
Critics last night lashed out at the bumper packages, saying more money should be diverted to the frontline rather than paying for ‘luxury retirements’.
A report by the Commons defence committee in February pointed to a recruitment crisis, with personnel leaving faster than they could be signed up.
It said the crisis was being fuelled by soldiers having to live in housing plagued by heating problems, electrical faults and mould.
John O’Connell, chief executive of the TaxPayers’ Alliance, said: ‘These multi-million-pound pension pots are frankly impossible to defend.
Taxpayers will absolutely support a boost in the defence budget and recognise the need to ensure our military is well equipped and fairly paid. But that means funds going to the frontline, not being used to pay for luxury retirements.’
General Gwyn Jenkins (right), has a pot worth nearly £3 million – up from just over £2 million in a year
A senior Tory backbench MP added: ‘Those who have given their life service to the Armed Forces surely deserve a decent pension but when you look at how we are now struggling to retain junior ranks, you do have to ask if some of these amounts are now a bit excessive?’
David Williams, the Ministry of Defence’s most senior civil servant, has a pension pot worth an estimated £2 million.
Paul Lincoln, Mr Williams’s deputy, has an estimated pot of £1.3 million, while the department’s former finance chief, Charlie Pate, had one worth just under £1.1 million last year.
The figures, in the MoD’s annual accounts for 2023-24, were slipped out earlier this week – the day after the horrific mass stabbing of children in Southport.
The Ministry of Defence said: ‘There has been no significant increase in pension payments. The pension benefits disclosed represent the accrued pension value in line with an individual’s defined pension scheme rights.’