I recently attended a brief where we were given an update on the upcoming change in how we receive our special pays. This new plan is called “Consolidated Special Pays” or “CSP”. Many of the details of the new plan are not finalized or available yet, but here are the highlights:
- All of the different special pays we received will be consolidated into three pays:
- Incentive Pay (IP) – This will replace Variable Special Pay (VSP), Additional Special Pay (ASP), and Incentive Special Pay (ISP). Currently ASP and ISP are paid in lump sums, but the IP will be paid monthly.
- Retention Bonus (RB) – This will replace Multiyear Special Pay (MSP) but will continue to be paid as a lump sum.
- Board Certification Pay (BCP) – This will change to a flat annual total of $6K instead of varying based on how long you’ve been in the Navy. It will be paid monthly.
- The current plan, always subject to change, is for everyone to convert to the CSP in FY17. Officers under an existing agreement (such as a MSP contract) will be allowed to remain under that agreement for the duration of agreement.
- The Navy is still working out the details and the answers to detailed questions may not be available. Because of this you won’t find any details yet on the BUMED Special Pays page. Despite this, they have been briefing these changes for a while at AMDOC and in other settings, so I think it is important to get the word out even if all the details have not been worked out.