Nightwatchman - according to the Armed Forces Pension calculator (available online) at the age of 55 (34 years service) as a Flt Lt on the Professional Aviator pay spine and the AFP05 pension scheme my final salary (at level 35 on PA) will be £74K and my pension will be £34K.
Suppose I live to 75 having retired fully at 55, I will get £680K to live off (just one year of Sir Fred Goodwin's pension!!!).
If you stay working in civvy flying until age 60 you will earn another 5 years of full pay (@£75K that is £375K) and then get 15 years of 14.6% (£11K) giving £165K and a total of £540K. If you keep flying to 65, that makes £750K pay and £110K pension giving £860K total.
It has been said that one reason Military pensions are so generous is that statistically not many of us live long enough to take them for very many years
