There was an RAF briefing session on the Pension in MOD last Thursday and another is planned for Monday. It was extremely good and I highly recommend that any who have not been, and are concerned about their pension, should attend. The roadshow will tour all Stations I believe.
The standard disclaimer is of course that all circumstances are particular to any individual but in essence those who serve the full stretch seem to be more likely to benefit under AFPS05. Those who leave earlier seem more likely to see some advantage in sticking with AFPS75.
The calculator will help and one individual who said he was intending to stick went through his sums in public session and was surprised when the new scheme worked out better! The factors you have to weigh are when will you retire from the RAF? What rank will you be and how how long have you been in that rank? Do you intend to work full time? If so have you time to earn another pension before 65? How long do you intend to work after leaving? The list goes on.
On IFA the advice was that for the princely sum of £20 an organisation called the Armed Forces Pension Association (a charity staffed by ex-Forces and Financial Advisors) will do an individual assessment for you and give you advice.
All in all then, people should not be too glum about this. For some there will be real benefits in the new scheme and for others there will be no compulsion to join something which disadvantages them.
I strongly advise all to go and listen to the presentations.
