A couple of further points occur to me that are worthy of comment:
It had previously been stated that the terms of transfer to AFPS05 would NOT include the automatic gaining of extra Reckonable Service, for previous service given prior to the age of 18 (ORs) or 21 (Officers) in AFPS75. The latest information bulletin from MoD seems to suggest that this has changed. Certainly, it can be read that way. However, it is not at all clear to me that this is what MoD intended the words to mean. I suppose we will have to wait for the final version of the transfer terms to be sure (not that it affects me – I joined after 21).
Similarly, it remains unclear exactly how PAS aircrew pensions will be calculated within AFPS05 for those who choose to transfer. The optimistic view is that “final salary” means exactly that – all of final salary. However, the current limited enhancements to pensions for PAS under AFPS75 were intended to effectively pension only that part of your previous flying pay earned after the date of first becoming PAS. Since the official advice, given in writing, to those who were offered PAS from 1 Apr 03 was NOT to second-guess what the new pension scheme arrangements would be, it would be wholly inappropriate now to give PAS the opportunity to transfer to AFPS05 and have ALL of their previous flying pay fully pensioned, without offering some redress to those who may have chosen not to become PAS (who would therefore have placed themselves at significant financial disadvantage as a result of taking advice published by the Services). I have no idea how the MoD would plan to deal with this issue, but it will be interesting to see. It is possible, of course, that the full expectations of current PAS, that AFPS 05 will fully pension the WHOLE of their final PAS salary, will prove to have been wishful thinking.
Happy reading
Ginseng