@Brian 48nav
I am sure that the loss of flying pay & overseas allowances are amongst the reasons why so many ex WWII pilots, who were arbitrarily deemed too old for operational flying in the late 1950's / early 1960's -- which was at the age of 41 in my dad's case, left the service as soon as they were able to.
As I posted on the Brevet thread, most of those who were ex WWII aircrew and who were in KL in the 1950's had, irrespective of how far they had risen up the flag pole, left the Service in the decade following the Sandy's 1957 Defence Review.
The irony is that when he retired and joined Marshalls at Shawbury in late 1961 he flew Vampires and later JP3s and JP4s at Shawbury, along with VR(T) flying until shortly before his 65th birthday.