It's true sadly.
There is pressure to reduce the wage and pension bill even after NEM. The options range from the slightly less palatable choice of making X factor non pensionable, a sliding reduction due to other allowances, and an outright removal due to other allowances. There is talk of making it a sliding scale, paid either at a greater rate in the early part of a career (as the perception is you go away and get messed around more at the start of a career) or conversely you get none at the start and more at the end (when getting messed around might drive you out the door).
Small fly in the ointment is X factor is determined by the AFPRB, not the sS pay colonels. However that problem wouldn't be difficult to fix should they wish.
However, surely, the point is a 10-15% pay cut would be too far for anyone serving now wouldn't it? New entrants only perhaps?