Hi Crab,
I think I made it clear in my post that I have no problem with you having a final salary pension scheme. I don't like the pension arrangements I have but that was what is on offer and thats what I have to accept. You guys have a fantastic and very generous pension deal and long may it continue for you.
You and Sven were trying to imply that an RAF pilot was cheaper than a civilian pilot because you are paid less which is not true. If you were to take your pension pot and convert it to cash required to reproduce a similar scheme my guess is that in real terms an RAF pilot is paid a lot more than his civilian counterparts. I take your point that not everyone is in receipt of the £30k schooling provision.
To give you an idea my pension pot gets 14.6% of my salary each year (7.3 % comes from me) after 22 years I will get an estimated (cos it depends on the financial markets at the time) pension of 13.9% of what I am earning now.
You guys are paid less but you don't pay into your scheme so what % of your salary do you get and after how long? When we know that we can work out what your real pay is when you include your pension provisions.
And I'll say it again, I really have no problem with you getting a non contributory final salary scheme and your school fees!
