PP,
Usually your caustic posts get my back up, but on this one I am with you. However, what has allowed the powers that be take 'ownership of this risk' (i.e. gamble) is that despite all of what has been said above and despite the significant differences in pay and conditions between Army and the RN/RAF is that there has not been a rush of people voting with their feet.
Of course there are those that are leaving at or around pension point - the 'cushion of a pension' making the decision easier. The Corps had factored those in and actually would like them to go. It always had invested a lot of responsibility in youth, where as the other 2 services have some well seasoned operators/high hour operators in command.
It is the 'bums on seats' and middle managers that would really hurt if they voted on mass. But despite the disparity and high op tempo forecast in the years ahead, the personnel figures look as though they are staying put.
Unless you know differently, I do not see or hear from the crew rooms of any stampede to civvie street (despite a very bouyant market, looking to explode in the airline market). This either signifies that either life is not as bad as portrayed, or the AAC retention measures do work (in comparison to the other 2 Services) or that it is infact true and the AAC pilot (given background, education, character etc) is a more stable Human Resource and not as mobile in the job market as his/her RN/RAF colleagues.
Whatever the reason, I do not think that people are voting with their feet, just whingeing and whining in crewrooms, with a real kick in the nuts for morale, just at the point when the Corps could proudly hold its head up high in the Joint Helicopter arena.