Why are the RAF still paying flying pay if it is for "retention"? It is not as if ex military aircrew are in any demand in civvy street.
Errr, yes they are. There are plenty of niche jobs about for those suitably experienced/qualified. Even more if you are willing to look outside the UK (as an awful lot of people are doing right now).
Ex-RAF Pilots are prevelant in companies such as Goldman Sachs, Mckinseys et al, mainly due to their abilities and experience.
So cut flying pay and do the banks recruiting for them. Makes sense if you come from Planet Senior Officer.