Pensions
Joined: Jul 2005
Posts: 142
Likes: 0
From: South West
I assume you have maintained balance in the past by putting your basic pay in one pocket and your flying pay in the other. Well handling your pension is slightly harder but not impossible. Dividing it in two and putting half in each pocket generally prevents any imbalance.
N Joe
N Joe
Joined: Jun 2005
Posts: 769
Likes: 0
From: UK
Why not use the Pension Calculator to work it out?
To save you the trouble, here are some direct comparisons:
All examples are for a pilot leaving at age 55 having 37 years of service.
Gp Capt paid at lowest increment on exit, all others at the highest level.
Flt Lt or Sqn Ldr PA Spine AFPS75 = £28091
Flt Lt or Sqn Ldr PA Spine AFPS05 = £39133
Sqn Ldr Career Spine AFPS75 = £26457
Sqn Ldr Career Spine AFPS05 = £28836
Wg Cdr AFPS75 = £35901
Wg Cdr AFPS05 = £39129
Gp Capt AFPS75 = £41355
Gp Capt AFPS05 = £40991
Does that give you enough hints?
To save you the trouble, here are some direct comparisons:
All examples are for a pilot leaving at age 55 having 37 years of service.
Gp Capt paid at lowest increment on exit, all others at the highest level.
Flt Lt or Sqn Ldr PA Spine AFPS75 = £28091
Flt Lt or Sqn Ldr PA Spine AFPS05 = £39133
Sqn Ldr Career Spine AFPS75 = £26457
Sqn Ldr Career Spine AFPS05 = £28836
Wg Cdr AFPS75 = £35901
Wg Cdr AFPS05 = £39129
Gp Capt AFPS75 = £41355
Gp Capt AFPS05 = £40991
Does that give you enough hints?
Joined: May 2000
Posts: 4,343
Likes: 116
From: UK
Have a look at http://www.pprune.org/forums/showthread.php?t=325046
and the rumours of PAS 2009.
and the rumours of PAS 2009.
Joined: May 2000
Posts: 4,343
Likes: 116
From: UK
LFFC
Not convinced with your argument. AFPS75 rates are based on percentages of your annual pay and not flying pay (for example at 16years it is 28.5% of your basic pay). PAS does not have flying pay and therefore your pension should go up as the PAS levels are higher than current basic pay. Hence a PAS Flt Lt's pension is better than a CS Flt Lt's pension at 34 years on AFPS 75 (£21,910 vs PAS £28,091).
I do agree that without AFPS05 it will not be as good a deal as it could be, but it is whole lot better than nothing...I certainly wouldn't say it isn't of any use!
LJ
Not convinced with your argument. AFPS75 rates are based on percentages of your annual pay and not flying pay (for example at 16years it is 28.5% of your basic pay). PAS does not have flying pay and therefore your pension should go up as the PAS levels are higher than current basic pay. Hence a PAS Flt Lt's pension is better than a CS Flt Lt's pension at 34 years on AFPS 75 (£21,910 vs PAS £28,091).
I do agree that without AFPS05 it will not be as good a deal as it could be, but it is whole lot better than nothing...I certainly wouldn't say it isn't of any use!
LJ
Joined: Jun 2005
Posts: 769
Likes: 0
From: UK
Leon,
Surely there's no such thing as an aircrew Career Spine Flt Lt with 34 years of service?
I thought the deal was that an aircrew Flt Lt was either offered further service as PAS at his/her 38/40 point or they retired.
Surely there's no such thing as an aircrew Career Spine Flt Lt with 34 years of service?
I thought the deal was that an aircrew Flt Lt was either offered further service as PAS at his/her 38/40 point or they retired.
