I'm still confused as to how the RN justifies the new pension which states for an immediate full pension you have to retire at 55 - our rules for officers state that under a Full Term Commission you have to retire at age 50 unless you make Cdr (Wg Cdr equivalent) or higher. Therefore we will never be able to get a full pension by service alone -
Oggin,
That's the whole point about AFPS 05 - government policy is that nobody should get a pension until they are aged 65. But they have given the military a dispensation that allows us to have a pension at age 55. If you are fit and leave before age 55 then the government assume that you will seek employment elsewhere and do not need a pension until you're 65.
So it would seem that Lt Cdrs in the RN, that have not been promoted to Cdr by age 50, will leave with only the EDP. I can't help feeling that that is a bit harsh as it must be damned difficult to start a new career as a civilian at that age - but as long as it's good for the RN........
However, if you are an officer in the RAF, aged below 38, and you sign up for AFPS 05 then your terms of service will be changed to 18/40 to fit in with the new scheme and allow you to have an EDP when you leave. So maybe something similar will happen in the RN and terms of service for Lt Cdrs will be changed.
Regards.