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Prince William Will Owe Nearly $610,000 For Early Retirement

Prince William Will Owe Nearly $610,000 For Early Retirement

But RAF Will Reportedly Waive The Fee 'In The Interest Of The Nation'

Prince William plans to hang up his flight helmet following his current tour of duty at RAF Vally in Anglesey, North Wales.

Because of the contract he signed when he entered training to be a helicopter pilot, he would normally owe the government the equivalent of $609,360 for the early retirement.

owever, the RAF has reportedly decided that they will forgive the bill "in the interests of the nation," according to a report in the UK newspaper The Mirror.

According to a senior RAF source, the service feels that "the education of the future King in military matters is hugely important to the nation. Prince William's training has been money well-spent whatever the length of service."

A source in the Ministry of Defence said that it was a fairly rare situation for a pilot to not fulfill the contract, but the repayment is decided on a case-by-case basis. If Prince William were planning to begin a career in commercial aviation, it would be a different story. But since he will be transferring back to "other public duties," it was permissible to waive the fee.

Prince William may continue to wear an RAF uniform for three years, but not be on active flying duty. The training is valued at little over $1.2 million.


Source: U.K. Ministry of Defense / mod.uk News - 29 April 2013

Photo: The Prince William in June 2012. He may give up job flying Sea King helicopters at RAF base in Wales. (Photo by SAC Faye Storer AP)


(29.4.2013)


 
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