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Old 29th Mar 2017, 13:02
  #130 (permalink)  
Lima Juliet
 
Join Date: May 2000
Location: UK
Posts: 4,336
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OAP

I also had a FRI of £50k - worked out as £29,500 as 40% tax and £500 National Insurance. Mrs LJ spent it on a new 4x4 and woosh it was gone!!!

Not so sure that there are many airline captains aged 30 earning £100k per year though? Normally it takes 10 years plus as an experienced pilot to get a left hand seat with the 'big boys' that pay this sort of money in my humble opinion. Plus they normally pay towards their pension at about £15k per year to get a similar amount as the AFPS.

A Flt Lt pilot that has been in about 12 years is going to be paid about £65k (inc flying pay) plus not be paying into a pension which would cost a further £15k. So that is £80k real terms then get a loyalty payment of £70k to stay for a further 6 years before they qualify for a pension for life and a tax free lump sum isn't too uncompetitive. Also, if you are doing it to become rich then they are in the wrong job, I would suggest!

Best

LJ
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