It is worse than that. The EDP payments will only rise in increments between the ages of 55 and 65. Prior to 55, their purchasing power will be withered each year by inflation (and I mean real inflation, not just RPI or (even worse) CPI).
Good point about the relatively few who have the chance to serve to 55. Across all 3 Services, I believe it is about 4% across all ranks (though I am currently one of the lucky ones). A good point was made in Parliamentary Committee about the number of 50+ Cols/Lt Cols in the Army who elected to retire to make room for up-and-coming youngsters. If they do this under the new scheme, they will be cutting their financial throats. One presumes they are more likely now to hang on, thus clogging up the system. And this is progress........