5S6B,
To my knowledge you are exactly right. My poster indicated that PAS may change slightly in the coming years to a 3yr amortisation beyond the 38 yr point. Worth asking your deskie about that, as signing a 5yr amortisation, when a 3 yr amortisation is in the pipeline would surely make people bitter!
I was also told that I could take the extension, and then if I still wanted PAS, exercise my original 38 point option (1 year in advance). This would then place me on the PAS board. Taking the option with the hope of PAS is IMO a riskier approach as under the old 38 point, I'd at least have access to all of the service leaving benefits at an earlier point.
There is also the push factor of being a lvl 9 Flt Lt waiting a further 4 years for PAS. It'd make me a 42 year old starting on the PAS payspine… then having to serve a further 5yrs rendering me a 47yr old to get a PAS pension. Significantly older than holding tight and looking to get PAS pre-38 point.
It is also worth looking heavily at the pension calculator as everyones circumstances will be different. There is an awful lot of maths to do and forecasting on the pilot recruiting market around your 38 point. On the last manning flyer they state that 400 pilot ground jobs have been delinked to aircrew. I suggest that the manning plot may be tight wrt future pilot manning levels. There is chat in my office at least of FRIs being used to stem the outflow.
I think you may be a able to tell I am not so keen. The calculator indicates a minimal uplift in gratuity (without PAS) and pension, whilst there is no information on PAS within the offer timeline. Another example of a rushed change without a holistic approach to the renumeration package and conditions.
Lastly… Will your poster indicate where you'll likely be, for the period of your
extension? .. mine wouldn't commit, so with PAS & job unclear, I didn't.
SIA