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Old 25th Mar 2012, 16:19
  #45 (permalink)  
Lima Juliet
 
Join Date: May 2000
Location: UK
Posts: 4,336
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JTO

Those that accepted the offer to transfer took a gamble and now the gamble may be less of such a good deal than they imagine. There are a few aircrew who stayed Spec Aircrew and didn't swap to PAS and they retired on less than they could have as PAS on AFPS05 - there are also those that retired as PAS on AFPS05 who were barely average at their job and got equivalent to a Wg Cdr's pension. What am I trying to say? There are lots of winners and losers in the pension offer to transfer and that is just life.

I could get really mad over the decisions that have occured over the years or I could just live with it. Your example shows a drop of about 10% for the notional Wg Cdr - if that reflects across the board, then its not that bad IMHO. There is also a chance that FAFPS may compensate for this shortfall through the faster accrual rate that is being hinted at (the new civil service scheme is also getting a faster accrual rate I believe?).

I reckon that there will be winners and losers again this time around, there probably always will be. But like Cpl Clott says, let's wait to hear the facts before getting too "angry of Sleaford Town" about it.

LJ
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