212man - the transition from spec aircrew to PA spine happened about 10 years ago - shortly before the new pension system AFPS 05.
Neither were difficult decisions to make - more money now AND more money later........a no-brainer really and it made a huge difference to a Flt Lt pension.
As for PVRs - theoretically they can hang on to you for as long as they like but I'm not sure that has ever been applied or tested - normally the maximum wait is 12 months (or 6 months if you are over 50).
If the managed transition doesn't work and mil guys are offered poor terms and conditions then they may try to PVR and be held which (if not on PA) loses them flying pay. Morale will go down the tubes and the number of stress-related groundings will go up leaving bigger and bigger holes in the manning plot.
This will be a significant flight safety risk which is why it is in everyone's interests to make the transition work.
Trying to screw over ex-mil with reduced wages (because they have pensions) will mean the good guys will go for other options leaving the contractor to pick up only those who have no other choices - not trhe best way to ensure a smooth transition retaining high quality SAR experience around the UK is it?
I don't think any of us would have a problem with sitting in the co's seat offshore for 6 months to gain hours on type providing the guarantee of the captaincy at a specific SAR flight thereafter was honoured. That way you satisfy your hours on type requirement, get to know the individuals and retain the SAR experience and enthusiasm you hired them for in the first place.
All that is required is mutual trust and honesty.