Mighty7
It has been confirmed from the FAFPS team that PAS pension supplements earned up to the changeover will be banked as part of your old pension. This is obviously still dependant on completing 5 years on PAS spine.
The big disapointment will be for those who only intended to do the 5 years PAS and then leave with a significantly increased IP and gratuity. Everything earned after the changeover date will be defered until payment iaw the new pension terms. which may not be payable for a long time, and may not include a gratuity.
At the moment, its costing the RAF £80k cash, plus an extra £20,000 gratuity and an extra £6000 per year on my pension payable anytime after the age of 43 to guarantee my services for 5 years. Even then the decision was a close run thing.
Gloat mode dissengaged.
Are you going to accept the same tie-in for the promise of an extra ~£5000 a year on your pension payable from the age of 60? You can do the maths if you like, but that package is worth about 100k at todays annuity rates. Or an extra £20k for each of those five years. They'd have paid you £13k pear year as a pension if you left!
Thats a big commitment from you with not a lot in return.
Of course, you might do it for the love of the job.
Last edited by Arty Fufkin; 3rd Apr 2012 at 14:15.