First introduced for Scottish athletes at the 2010 Commonwealth Games in Delhi, the scheme is designed to kick-start longer term savings and investment planning for athletes once they retire from their high performance sport career.

As part of the scheme, athletes will earn a set prize fund determined by the colour medal they win at the Games, with this money then made available to them on retirement in order to allow for a life after elite sport.

The scheme is structured so it complements rather than duplicates existing sources of performance funding.

"The Medallists Reward Scheme is designed to give athletes a boost at that financially uncertain time when they make the often difficult decision to give up competing in their chosen sport," said Michael Cavanagh, chairman of Commonwealth Games Scotland.

"It aims to recognise the sacrifices they have made to pursue their sporting career over the years and reward their achievements on the Commonwealth stage.

"The scheme has been designed to be a positive investment in our athletes that is affordable, fair and equitable across all 17 sports on the Glasgow 2014 programme."

Under the Medallist Reward Scheme athletes will receive the following:

• Gold medallists - up to £10,000 ($17,042/€12,647)

• Silver medallists - up to £5,000 (£8,521/€6,322)

• Bronze medallists - up to £2,500 ($4,260/€3,161)

Double Commonwealth Games gold medallist David Carry spoke of how the scheme benefitted him after his retirement from swimming following London 2012 ©Getty Images



Multiple medallists will be eligible to receive a single award based on their top medal won.

The maximum total per sport is set at £75,000 ($127,816/€94,938) which if exceeded, will result in individual athlete amounts being reduced on a pro-rata basis.

The final amount each medal-winning athlete is eligible to receive on retirement will be determined at the end of the Games, according to Commonwealth Games Scotland.

As funds are not released until retirement from elite competition, eligible payments will be held by Commonwealth Games Scotland, with the final amount paid out to the athlete increased annually in line with the Retail Price Index.

Commonwealth Games Scotland has said that in sports with recognised longevity, such as lawn bowls or shooting, "some payments may be made in advance of retirement but only in exceptional circumstances and at the sole discretion of the Commonwealth Games Scotland Board".

However, even in these circumstances at least one Commonwealth Games cycle must have passed before any payment is made.

Double Commonwealth Games gold medallist David Carry, who also took a silver and bronze at Delhi 2010, paid tribute to the scheme having been a beneficiary on his retirement from swimming following London 2012.

"Funds from the Medallists Reward Scheme really helped me when I stopped competing and it's fantastic to see it being announced again for Team Scotland medallists at Glasgow 2014," he said.

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