TOC,
I believe that Mmmmnice has got it right. This was the subject of much discussion a few years ago and basically was another case of the left hand not knowing what the right hand was doing.
Work on retention measures that led in the formation of the PAS and the study into pension policy wasn't coordinated. I believe that this has resulted in a situation where, if he were on AFPS75, TOC would loose any additional PAS pension and half his flying pay if retired early. However, as he is now on the AFPS05, he will suffer no penalty by retiring early.
Hardly surprising then, that in its 2007 report the AFPRB said,
"...we request annual updates on proposed work on pension arrangements between the Professional Aviator Pay Spine and the Career Stream, developing sustainable experience profiles, improving numbers through the training pipeline and a cost benefit analysis."
Looks like the bean counters are on the case and maybe that's why it's hard to get a straight answer!