It's really very simple. Just go to the
MOD Pension Calculator and run through your various scenarios. Although the calculator hasn't been updated for the 2007 pay review (just add about 3% to all the resulting figures to get a rough idea), it will give you all the information that you need to know.
Notice that if you enter AFPS05 on the second page, you get no more questions about early retirement - that doesn't apply because the AFPS05 scheme is based on your last year's salary! Hence the reason for flying pay being halved if you request "early termination" - there had to be some disincentive to leave early. Mind you - PAS don't get flying pay - silly me! So as long as you've served your time and wont revert to the Career Spine by leaving early - you're in the clear.
Unfortunately they also applied the halved flying pay to people on AFSP75. Therefore, they loose flying pay
and get a lower pension if they leave early! Clever that isn't it!