Prince Harry to receive military pay-off package

Prince Harry is set to receive a lucrative financial package for his time in the military.

Prince Harry
Prince Harry

Britain's Prince Harry is to receive a resettlement package worth about £15,000 when he leaves the Army.

The 30-year-old royal recently announced his decision to leave the Armed Forces - in which he currently earns around £40,000 per year as a captain - but is entitled to the payout in June by virtue of having spent so long in the military.

The Ministry of Defence says a "resettlement grant is applicable if the individual has completed nine years' service from age 21 to aid resettlement into civilian life".

What's more, the Daily Mail newspaper reports that the prince will collect a pension of some £7,100 per year, in addition to a lump sum of about £19,000.

He will, however, have to wait until he is 65 to claim them.

In a statement released earlier this month, Prince Harry confirmed his plan to leave the military and said he is currently considering his options.

He explained: "Inevitably, most good things come to an end and I am at a crossroads in my military career.

"I am considering the options for the future and I am really excited about the possibilities."

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