I have had some enlightening correspondence with both SPVA and the Forces Pension Society (FPS). Even after the Sep 11 CPI figure (due to be used in FY12/13) was announced in Oct 11, SPVA confirmed to me that it would not be worth getting another Pension Forecast until Apr 12. The reason for this is explained in the following info from the FPS:
I suspect the reason why the 5.2% has not been used in your forecast is that it is not effective until 9th April 2012 and SPVA will not use 'potential' rates, only rates in place on the date the forecast was made.
FPS also confirmed the information reference Final Relevant Earnings (FRE) in my previous post. Note that FRE only applies to those on AFPS05.
For those thinking of volunteering for Tranche 2, given the recent pay freeze the 'Dynamising' effect of FRE will be of a similar benefit to you as it is to those of us who were Tranche 1 Compulsory redundees. As the FPS explained it for my circumstances:
Both CPI figures will feature in your pension award calculations. For days of salary paid between 31st August 2009 and 30th August 2010 the increase will be both the 3.1% and 5.2% compound (i.e. 8.4612%). For days of salary paid between 31st August 2010 and 30th August 2011 the increase will be by 5.2%.
So if you are Tranche 2 volunteer, who will presumably exit on 12 Dec 12, if your pay has been static for the last couple of years, your salary will be increased in a similar manner to the example in quotes above. The FRE that is calculated, which drives both your Compensation Lump Sum and your pension, should hopefully give you a pleasant surprise!
Anyone on AFPS05 who is thinking of PVRing could also benefit from the same 'Dynamising' effect on your pension.