Why 5 years for pension on PAS?

[indie cent]

After a quick bit of insight guys... Why do most people refer to PAS as a minimum 5 year option. I'm sure I can recall comment stating that PA spine was a lucrative option, particularly if one was to leave after 5 years. I'm having no joy searching.

Asking because I've had a play with the pension calculator (based on AFPS 75) and it doesn't seem to indicate a large jump at yr 5... Rather, a progressive increase throughout the tenure of PA. Perhaps my recollection was based on inclusion of the now defunct JO FRI?

Am I missing something here? Any recent leavers with experience of this perhaps...

Thx for any assistance... btw, for those considering PAS, check out the lump sum on full commutation.

[caped crusader]

From what I remember when PAS was introduced, you had to do a minimum of 5 years service on PAS to qualify for the enhanced pension. Consequently those Spec Aircrew with less than 5 years were not able to transfer to the scheme.

However, I believe that if you were on PAS and transferred to AFPS 05, your pension was based on final salary and you were not restricted to 5 years service.

[Dave-exfairy]

for those considering PAS, check out the lump sum on full commutation.

I thought you couldn't commute any of your pension now? What sort of figures are you talking about and how is this shown on the pension calculator?

[caped crusader]

I believe you can commute under AFPS 75, which is what IC is referring to. If you are on AFPS 05 then you cannot commute.

[BEagle]

Consequently those Spec Aircrew with less than 5 years were not able to transfer to the scheme.

True. Neither was there any significant Spec Aircrew salary change to compensate for this.

So, no reason to stay longer than absolutely necessary for anyone over 50, unless they were a serial brat-breeder on boarding school allowance or had no hope of work in civvy strasse. Pins out, black and yellow pulled a week or so after this was confirmed. Better by far the pension you could be sure of.......

[nwid]

The pension you get as Spec Aircrew does not include your flying pay, but for PAS it does. You had to have 5 years left to do to qualify for transfer to PAS, and I believe that you qualify for the "extra" pension after you have served the 5 years.

[Farfrompuken]

Indie,

the 'jump' you refer to is performance based. Those who under achieve or lack any talent don't see the jump.

The calculator is very canny you know;)

[AHQHI656SQN]

I opted for the 05 pension at the option point, I then moved to the PES (Aviator) salary. The bonus here is that my 05 pension is calculated from my salary (which includes my old flying pay). There isn't any qualifying period for the 05 pension. The 05 pension pays out on the highest salary over the last two years PES(A) or not. I am not sure about the 75 pension, but I do know that my collegues who remaind on the 75 pension do not get anything like the same return.

[Throttle Pusher]

As I recall, on the 75 pension scheme your pension was based on your rank not your salary (the band of brothers’ principle). People on PAS had there pension enhanced by a factor of X for every year on the PAS scheme. As it was a retention incentive, a minimum qualifying period of 5 years was stipulated. If you left before the 5 year period had elapsed you got the standard pension for your rank.
The 05 scheme is based on your salary, and as those on PAS no longer receive flying pay, all their salary counts towards the pension. I know of one air engineer who opted for the 05 scheme and left the air force one week later and got a full PA pension. (He still owes me several beers for the advice on that one.) I heard this was an oversight when the 05 pension was brought in, but a very nice one if your on PA spine.:)

[Tiger_mate]

As it was a retention incentive, a minimum qualifying period of 5 years was stipulated. If you left before the 5 year period had elapsed you got the standard pension for your rank.

My understanding is that was the case when PAS was introduced, but the 5 years min was changed (read withdrawn) shortly afterwards when it was legally challenged. Confusion then prevailed for a number of years as people got PAS & 05 pension 'rules' mixed up.

[RODF3]

Asking because I've had a play with the pension calculator (based on AFPS 75) and it doesn't seem to indicate a large jump at yr 5... Rather, a progressive increase throughout the tenure of PA. Perhaps my recollection was based on inclusion of the now defunct JO FRI?

don't believe the Pension calculator. If you are leaving the PAS within 5 years you will not get the pension shown nor the lump sum if you commute and are on AFPS75. Despite the pension calculator asking all the right questions it it not clever enough to apply the correct rates to PAS leaving within 5 years. Remember that as PA you will alos be PVRing and get a different pension rate as well. I knows, I've just done it.