Why 5 years for pension on PAS?
Thread Starter
Join Date: Mar 2006
Location: UK
Posts: 107
Likes: 0
Received 0 Likes
on
0 Posts
Why 5 years for pension on PAS?
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.
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.
Join Date: Jun 2005
Location: SOUTH OF EGQS
Posts: 76
Likes: 0
Received 0 Likes
on
0 Posts
5 years minimum service on PAS
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.
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.
Registered User **
Join Date: Oct 2009
Location: Wales
Age: 44
Posts: 2
Likes: 0
Received 0 Likes
on
0 Posts
for those considering PAS, check out the lump sum on full commutation.
Consequently those Spec Aircrew with less than 5 years were not able to transfer to the scheme.
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.......
Last edited by BEagle; 20th Oct 2009 at 06:41. Reason: Grandma error!
Join Date: Oct 2007
Location: UK
Posts: 6
Likes: 0
Received 0 Likes
on
0 Posts
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.
Join Date: Nov 2004
Location: Wattashame
Posts: 136
Likes: 0
Received 0 Likes
on
0 Posts
AFPS 75 v AFPS 05
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.
Join Date: Jan 1999
Location: Oxfordshire UK
Posts: 34
Likes: 0
Received 0 Likes
on
0 Posts
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.
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.
Join Date: Aug 2001
Location: United Kingdom
Posts: 1,797
Likes: 0
Received 0 Likes
on
0 Posts
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.
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?