Continuation pay is a direct cash payout, like a bonus, available to service members enrolled in the Blended Retirement System (BRS). It is targeted at the mid-career mark, payable between completion of eight years of service, but before completion of 12 years of service (calculated from a service member's Pay Entry Base Date). Most service members will be eligible for continuation pay, but the timing and the amount is determined by your service.

Retired Service members are not eligible for Continuation Pay.  

The Blended Retirement System (BRS) Continuation Pay Fact Sheet:
https://militarypay.defense.gov/Portals/3/Documents/BlendedRetirementDocuments/Fact%20Sheet-Continuation%20Pay.pdf

Blended Retirement System (BRS):
https://militarypay.defense.gov/BlendedRetirement/

Blended Retirement System Training for New Accessions Course
https://militarypay.defense.gov/Blended-Retirement/New-Accession-Training/

"Just the Facts" Continuation Pay Brochure
https://www.af.mil/Portals/1/documents/Force%20Management/USAF-Infographic-AC-12-4-2017.pdf

Continuation Pay Brochure 
https://militarypay.defense.gov/Portals/3/Documents/BlendedRetirementDocuments/Fact%20Sheet-Continuation%20Pay.pdf