FJTME - answers on a postcard
If you opt to leave at your 16/38 point, you will receive an immediate pension and lump sum of everything you earned under AFPS75 prior to the point of transition (planned for 1 Apr 15). The remaining years will be under the FAFPS career average earning system and will be deferred until your normal pension age for this scheme as you won't have completed the required service for the 20/40 option point. However, if you choose to see out the qualifying period for the FAFPS Early Departure Payment (in effect, another immediate pension but it cannot be referred to as such) and serve until your 20/40 point, you will get this on top of your AFPS 75 'chunk'.