After some consideration..........
Having taken a good while to assess the effect of the coming changes, I am left in no doubt as to where the axe will fall, compared with today's Schemes. The short career (20-22 years) profile, wholly within FAFPS, when compared with the same profile wholly within AFPS 05, results in a massive loss of accumulated value of benefits up to the future State Pension Age (SPA) (and that is after making some fairly conservative assumptions about the affect of compound inflation and Income tax over the relevant periods). To some extent this is inevitable, of course, and Reverend's long post above is full of the political realities. But the result is undeniably very bad for those in the future who will not complete a full career, with the possible exception the real thrusters.
Regards
Ginseng