Most of the replies so far seem to be looking at the 38/16 point (or 40 for some?), but my question is this:
If you are past 38/16 and have decided that you won't take your 44 option why wouldn't you accept PAS? As far as I can see:
1. Pay is better (top rate PAS > top rate SO2 + top rate FP).
2. Pension is better. I realise that the change in 2015 might not necessarily make this true (by any significant amount), but when a new scheme comes in I would rather be on 75k basic than 55k basic + 20k FP. You won't be worse off!
3. PAS no longer has any impact on career progression (manning promised, so it must be true).
Seems too good to be true so what am I missing?