Reference the continuing 1% pay rise...
Firstly, we may as well can the AFPRB then and save a bit of money!
Also here is something I thought about last night whilst supping some Sharp's Coaster in my local. Those that have PVR'd/ET'd or left at a retirement point with a pension in payment and have gone FTRS would seem to be doing better than those that stayed in - that is because the pension is going up at CPI and the salary, for those that stay in and what the final pension is based upon, has been going up at a much lesser 1% for our yearly pay rise from Mr Osborne. For example the CPI for the last 4 years has been about 10% in total, whereas the past 4 years has seen just 4% in wage rise - so those that have left and rejoined have seen a proportion of their take home grow by 6% over those in the Regulars. Also, when retired at 55plus those that left early with a AFPS75 pension that stopped growing from 1 Apr 15 may well end up with a smaller final pension than those that jumped FTRS around the same date. However, this only works for those that are approaching 55 as otherwise the AFPS75 pension payment stays flat until age 55 - however, all is not lost, the age 55 index-linking AFPS75 pension will be growing at a faster rate due to the difference in CPI and the wage rise.
Food for thought? Maybe rejecting the extension to 60 as a Regular and 'retiring' to a FTRS post might be better for some (approaching 55) with an AFPS75 pension?
I'm sure some bright spark will correct my boozy musings...
LJ
