So,
Just let me get this right, because I am having some real dificulty in getting my head around this. Ever since 1992 and the last recession the civilian private sector has enjoyed astronomical growth in all areas, with wage rises, bonuses and associated Terms and Conditions that the military could not achieve.
No bonuses, no company cars, no company telephones and no 'contract award' deals. The private sector was happy and content looking down at the Public Sector knowing that the salaries they were on and their pensions linked to the stock exchange made the military, police, fire and nurses the 'poor cousins' in career choices.
How many times in the city have people looked down their nose at me in a bar in the past when they find out that I am 'just an officer' in H M Forces. The arrogance and the noveau wealth has never worried me as I have always been very proud of my profession and I see wealth not purely in monetry terms. When I still talk to my friends in the city they still find it difficult to see why I worry about my pension when they are still living comfortably off their investments made from their bonuses over the last 10 years (and I re-itterate, not just the 'fat cat' bonuses - but normal on the shop floor middle and junior management bonuses). They do not worry about their pensions as they have sucked every last bit of money out the system to prepare them for the future-which has resulted in the Govt (i.e. you and I) bailing them out. This is not just the Financial Services Industry, but retail and to a lesser extent commodities.
However, and this is my point, why all of a sudden when the private sector no longer gets its bonuses (not just the fat cat ones - the junior manager level etc), no longer gets the company car or the mobile or the corporate wining and dining that the private sector then starts to look over the fence and want a slice of my pie and my investments that I have always known will look after me when my flying days are over and therefore do not need to go for a second career in the city trying to earn my fortune.
If you remove the pension in its current state, then as per CEA, you will lose the top quality and best serving officers, NCOs and men/women from all three services as they will see that there is no financial reason to stay.
There would be every 'push' into civvie street from all of the negative aspects of Service life that are discussed so often on this forum, combined this time with very little 'pull' to remain in the services. Serving for love of Queen and country can only go so far.
From the recruiting perspective, who are we trying to kid - the future armed forces youth of today are all over Ts&Cs and they will be able to quickly weigh up the limited fianancial opportunity that a full career will offer in comparison to the earning potential in the private sector.
Bonuses, company cars, private health schemes, re-location allowances, mobile phones, corporate entertainment have not gone - just put on hold and they will return to attract the real high flying youngsters of the future. Remove the forces pension scheme and try and align it to a private sector pension scheme will result in more people leaving (especially once they have 'ticked their flying/op tour box') and possibly result in a lower calibre of individual joining the forces as the lure of the private sector is too enticing in comparison.
Have I got this wrong, what am I missing?