This is massively scary. Yes I think we will have to contribute more in the future for our pension fund. But no lump sum or immediate pension if you PVR before 55, or no pension between 55 & 60 when you will find it hard to get a second career! This equates to an enormous loss of future earnings you plan all your service life to get to say: help buy a house, reduce the mortgage when you leave the service or put your kids through University.
People mention that everyone in the country is being affected by pension changes so why should we complain about our ‘gold plated one’ being changed. True but reason this: How many other jobs do you willingly let yourself be put in war zones, moved around every few years or be deployed at short notice for long periods. All of this is also sharply endured by friends and family?
I hope we just get increased contribution with those currently in the service able to keep their immediate pension and lump sum both on PVR or at 55.
If not I feel there may be a rash of experienced, skilled, previously loyal 38-53 year olds opting for PVR before any changes occur.
