Biggus,
Sorry, but I think you have been mislead by the description of an increase to 75% at age 55. What it means is that the percentage of preserved pension that you would receive as an EDP increases on a linear scale from age 40/18 years service, to age 55 (minus 1 day!), the age being your age on date of "early retirement". Therefore, if you retired aged 54 years and 364 days, you would receive ten years worth of 75% EDP ( but uplifted for inflation from first day in retirement), then full preserved pension at 65. Retire one day later (at age 55) and you receive your immediate full pension. It is an unlikely scenario, I know, but that distinction is there.
Muff C,
I have to say I see your point, and apologise. Perhaps I got confused with the widely mis-described "Group Captain Pension" used to sell the PA Spine deal when it was originally floated. Would you accept, however, that it is incredibly unlikely that a Wg Cdr/Lt Col would be promoted to Gp Capt/Col with one year or less to serve to age 55, so I still claim that to make comparison with "Group Captain on Appointment" pension rates is illusory.
As for the affect of PVR from AFPS05, this would of course mean "early" retirement, and hence payment only of the appropriate EDP until age 65. Whether PA/PES(A) would be held to complete the original 5 year committment from Apr 03 without further sanction, I do not yet know.
Regards
Ginseng
Added Later!!!!!!!!!!!!!!!
Biggus,
Dammit, I am going to have to apologise again! Alarm bells rang and I delved in to JSP 764 Part 2, where the answer stared out at me from Para 0209 on page 2-3. You are right, the initial EDP is increased to 75% of the preserved pension, and index-linked, from age 55. Glad to set the record straight. You have destroyed my credibility on this forum - Well Done! Perhaps I should shut up now.
Regards
Ginseng
Last edited by Ginseng; 10th Jun 2005 at 21:42.