Navy Master Chief Retirement Pay

Military retirement pay is paid once a month in arrears. A master chief petty officer of the navy receives a monthly basic pay salary starting at 0 per month with raises up to 8 498 per month once they have served for over 38 years. It is on the 1st of the month unless the first is on a weekend or holiday in which case it is shifted to the business day prior to the weekend or holiday.

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This works just like end of month active duty pay days.

Navy master chief retirement pay. The chief of naval operations pay remains 8340 00 regardless of time in service but basic pay is limited by the level v of the executive schedule to 6 516 60. Navy master chief petty officer pay calculator starting pay for a master chief petty officer is 5 472 90 per month with raises for experience resulting in a maximum base pay of 8 497 50 per month. The master chief petty officer of the navy s basic pay is 3398 70 regardless of cumulative years of service. In addition to basic pay master chief petty officers may receive additional pay allowances for housing and food as well as special incentive pay for hostile fire and dangerous duties.

You can use the simple calculator below to see basic and drill pay for a chief petty officer or visit our navy pay calculator for a more detailed salary estimate. A master chief petty officer receives a monthly basic pay salary starting at 0 per month with raises up to 8 498 per month once they have served for over 38 years. Multiply your years of equivalent service see equivalent service formula below by 2 5 up to a maximum of 75. In addition to basic pay master chief petty officer of the navys may receive additional pay allowances for housing and food as well as special incentive pay for hostile fire and dangerous duties.

After only 20 years of service military retirees can retire under the high 3 retirement plan with 50 of their basic pay full medical coverage and a slew of other benefits that will stay with them throughout the remainder of their lives. Depending on the date you initially entered military service also called the diems date your monthly navy reserve retired pay will be calculated under the final basic pay or high 3 formula as follows. Starting pay for a chief petty officer is 2 875 20 per month with raises for experience resulting in a maximum base pay of 5 167 50 per month.