This could have a devastating effect on people like me (and Harrier 123) who've done 11 years of a 16 year commission and were planning on going at the end of commission. Potentially we will no longer receive an immediate pension and have to wait until we're 60. This means we will miss out on 20 years of full pension ie nearly £1/4million...!
There will obviously be hell on by those affected and, I'd imagine loads of PVRs as there'll be no incentive to stay....
'Preserved rights' can be interpreted in many ways. If you haven't done your full 16 years then you could not 'qualify' for anything and potentially get zero immediate pension Despite working for 11 of those years on the assumption that you were working towards an immediate pension.