Baldrick's PA Spine and Pensions

[Always_broken_in_wilts]

Help!!!

Having recently signed up, after some fairly pointed prompting from PMA, I am still none the wiser about pensions and gratuities.

Has anyone out there got a REAL handle on what we can expect?

all spelling mistakes are "df" alcohol induced

[Tiger_mate]

So lets get this right:

You have signed your life away to an entirely new "contract of employment" that has some pretty serious implications, and you do not understand the full scope of what you have done.

I do hope that this is said tongue in cheek, for the enthusiasm you offered on this subject on a similar parallel thread may well have been infectious.

FWIW I am advised to keep the new PAS and Pension apart as they are not one and the same. Likewise it would appear that any cynical "Yeah buts..." are usually reponded to with "You cannot go wrong....".

I guess most NCA will wind their necks in for the next few years, and then there will be a PVR rush again. Here`s to 1 Apr 2009.
T_M has new leg-iron attached and welded :E

[Untermensch]

Always Broken in Wilts.....................

You've signed up? Well you didn't have much time to think about it did you? (2-3 weeks) Still noone knows what affect the new pension (if any) will have on PA.

:ok:
:confused:

[Always_broken_in_wilts]

Is there an echo in here:E

all spelling mistakes are "df" alcohol induced

[Good Mickey]

ABIW,

can't offer any good gen, but if it helps, I would have done the same if I had been offered PAS!! Still got a few years to go yet before I am eligible and this 'too good to be true' offer gets withdrawn. Anyway, if you don't like it and you want to leg it before 55 you revert back to your old terms...no lose situation?

GM

[DP Harvey]

ABIW,

Here's a few facts:

The new pension scheme will be related to your highest salary in the last 3 years. You must remain in the RAF until age 55 to receive an immediate pension.

The PAS scheme will ultimately give you a higher salary when you leave at age 55.

If you're on the PAS scheme you will only come off it in unusual circumstances: PVR, permanently unfit to fly, etc.

So, yes, both schemes will combine to give you more money in the long term.

On 1 Apr this year you will remain on your existing pay level and flying pay (Pay "X"), which will receive the annual increase (Pay "X+"). This will be your reference pay for the move across to the PAS. The PAS rates for 2004/05 will be compared to Pay X+ and the lowest PAS level at or above Level X+ will become your new salary.

Happy?

Regards
DPRV

[Always_broken_in_wilts]

TM,

Nice to see the echo has vanished;) and you are right I have signed away my life to a completely new contract..........but like all of us presented with this "ONE SHOT" option what choice did I have:(

The word from the horses mouth at PMA, my leader in conversation with our poster, was it was a no lose situation and why are people hesitating:suspect:

As in RFU it was a case of use it or lose it but all I want to know is what the implications are...............and despite DP's excellant explanation I am still in the dark as regards my own "jack" situation.

Hoping all becomes clear at some stage............preferably before some bean counting tw@t moves the goal post's again.

all spelling mistakes are "df" alcohol induced