The pay is rubbish. Who would want to continue as a service pilot on the same cash with less job security and littel advancement prospects? The MoD are living in cloud cuckoo land if they think this is a serious proposition.
There is a world pilot shortage - right now. Two years ago, my company had 2000 CVs on their books. Now, we can't get people to turn up for interviews and we are losing pilots twice as fast as we're recruiting. This FTRS scheme is competing in the same market.
The money being offered wouldn't even cover my kids school fees after tax!