If there were a pay rise commsurate with my anticipated pension at pension point, an opportunity to cash in lump sum gratuity whilst serving, and not having my pension frozen on FTRS, I may have considered staying. But it's not.
Bottom line, to serve past 38, you'd be bonkers. In my case, MoD are getting to keep someone who otherwise they would be paying 12k pension per annum as well as me running the risk of getting hit with income tax if they change the rules on lump sum gratuity. The 5 years salary you lose by an inability to serve to 65 and no option for regulars to take a 60/70/80% contract as you get on in the tooth is another rather major issue for me and considering you will be at the top of your tree, costs you pot a lot of cash at this point. Easily doable, you can still do a 6 monther on a 60% with pre deployment stuff, just not much else!
I have friends in their first summer at a charter who with overtime on shorthaul have turned over 95k in their first year. The sums quoted above do not include the 10-15k in allowances, the tax perks, staff travel, bonuses and actually getting a representative pay rise for what they do. (airline industry 25% Vs 2% for me in the mob over the last decade).
I've had a hoofing time, but so have my mates in the industry, who don't get treated like they are committing fraud every time they claim subsOh, that's right they dont claim subs, it's given to them like we used to get.
The MoD needs to wake up and smell the coffee, if it wants to retain, STOP penalising reservists by not paying pension as FTRS you cheapskates! You need to pay a much bigger salary post pension point to account for the real world drop in pay you incur by deciding to stay. You need to consider early access to the lump sum and you need to realise that a 50% pension of cock all is still less than the 21% BA pay out over a lifetime of decent wages and a pay rise! It absolutely is about the money, as well as not knowing whether the government are going to continue to cut our benefits past summer, as they can't seem to decide on where the money is coming for to prevent capability cutbacks!
Done the sums, as have most of us. There is close to an 800k disparity between what I will finish up with between leaving at 38 and joining a airline and staying on. And staying on isn't the most lucrative option! The MoD can spin the figures, the pension scheme is nowhere near a 51% contributory. Nowhere near.
Last edited by VinRouge; 23rd Apr 2018 at 07:12.