Biggus
I have been examining your calculations earlier (8 Jun post at 21:33). I think you have an error. Your EDP calculation assumes that, after retiring at 50, your EDP would increase to 75% of preserved pension at age 55. It will not. All that will happen is that the RPI uplift will be applied (and backdated) to your 67% from that date. You still come out on top, but not by as much as you think. And, of course, if you don't live to collect the second lump sum at age 65, the balance of the sums reverses. Beware of false assumptions - this is more complex than you think!
Regards
Ginseng
Oggin,
As regards the Naval Officer (or anyone else) retiring before 55 - its an EDP for you until age 65, then preserved pension. There is no other compensation for your terms of service forcing you out.
The same applies to those retiring before 40, or with less than 18 years Reckonable Service. In your case it is - No EDP, preserved pension at 65.
Muff C
There you go with that "Group Captain Equivalent Pension" nonsense again! It is good, but not that good! No Group Captain I know retired on a pension calculated on his "on appointment" rate of pay. This is because, in AFPS 75, you only need serve 2 years in the rank to achieve the pension based on full Representative Pay for that rank (and it increases on a sliding scale between 0 and 2 years). Do you know anyone who was promoted and retired the next day? Spin and headlines can be very misleading, and are sometimes intended to be, to create a bigger impression than they deserve.
Ginseng
Last edited by Ginseng; 10th Jun 2005 at 15:31.