FAFPS
Bootscooter and Razorduck raise a very interesting topic here!
I have many burning questions and thoughts regarding the new pension scheme, but one in particular that is really concerning me.
This is the best way I can explain this scenario!
I believe that I am correct in thinking that if my ‘twin brother’ and I had joined the Service on the same day; both promoted through the ranks on the same day: then one of us transferred to AFPS 05; that when the FAFPS is implemented in 2015 the one who transferred to AFPS 05 having made the long term commitment would be discriminated against and financially worse off!
It would appear from the last update on FAFPS that it would have been prudent for me (like many others) to stay on AFPS 75 and not transfer to AFPS 05. I, like many other members of the armed forces made a massive commitment and dutifully transferred to AFPS 05. I am acutely aware of the financial climate ‘we’ all find ourselves in and ‘we all must share the burden’. Notwithstanding, if my calculations are correct it would appear that I like many others are going to be hit with a ‘double whammy’ simply because we committed to the Service. This cannot be morally acceptable and I really hope that I am wrong on this matter because if it is correct it is perverse!