Biggus,
Thanks for the info. Now, let me see if I've got this right - please correct if I'm wrong. I'll use current figures and only look at pilots, but I think that similar principles apply to WSOs, Rear Crew and NCO pilots:
A Specialist Aircrew Flt Lt (if there are still any) retiring at age 55 on the top pay band would receive £24000 a year under the old pension system or £24750 under the new pension system.
A Sqn Ldr (not in the Professional Aviator Pay Spine) retiring at age 55 on the top pay band would receive £24000 a year under the old pension system or £24750 under the new pension system.
A Wg Cdr retiring at age 55 on the top pay band would receive £31100 a year under the old pension system or £32000 under the new pension system.
However, a Flt Lt in the Professional Aviator Pay Spine would receive £33600 a year if he/she joined the new pension system and retired at age 55!
Is this too good to be true? Are you sure that aircrew in the Professional Aviator Pay Spine will be invited to join the new pension scheme when the paperwork is passed around next month?
If so, apart from personal satisfaction, what incentive will there be for aircrew to work hard and get promoted? I know that they would earn more whilst they are serving in a higher rank, but unless they get promoted to Gp Capt they wouldn't ever match the pension they would get if they retired in the PA Spine! Would all the extra stress, paperwork and ground appointments be worth it?
Just what are the odds of reaching Gp Capt these days anyway?
Last edited by LFFC; 8th Jun 2005 at 22:51.