Thanks for the constructive input so far....
VR, yep you have got it - and exactly my sentiments and thought process. If this new pension scheme is going to come in before 2014 do I jump early and look for a second career, whilst at least having the cushion of my pension. As you, my whole financial plan revolved around being able to draw my pension at either my 38 point (which I have passed) or my 55 point.
My concern is that the Govt may announce changes with only a 6-12 month lead in, therefore for those of us that require a 1 year to serve our notices will fall the wrong side of the new pension rules. I may well get my pension earned to date preserved on the old final salary scheme, but I get the feeling that I may not be able to draw it until 60 - which for me is a non starter and I would prefer to leave early.
But pensions is only half of my conundrum - and perhaps I was being naive, but I will have to look at every single new job now, not from a career enhancement or interest of the service, but how much real income will I lose - or in the case of flying pay, lose after only 2 years (when the aspiration for defence is for tour lengths to increase to 3 years)?