Just a little snippet that I have stumbled across which could be of interest.
http://www.efinancialnews.com/story/2010-06-14/uk-prepares-for-public-sector-pension-reform
Interesting to say the least.
TW
This is also backed up by an official parliamentary document found HERE
Which states:
The Armed Forces Pension Scheme (AFPS 75)
The Armed Forces Pension Scheme is an unfunded, defined benefit, salary-related, contracted-out occupational pension scheme open to most members of the Armed Forces, administered by the Service Personnel and Veterans Agency (SPVA) formerly Armed Forces Personnel Administration Agency (AFPAA) and financed on an annual basis by the Consolidated Fund.
The Scheme is designed to meet the special requirements of Service life. Youth and fitness are important to the Services, and the Scheme provides immediate pension benefits to many of those who leave without completing a full career. The full career pension can be earned relatively early, at age 55, and invaliding and death benefits are available in the event of illness, injury or
The Scheme rules are set out in “Prerogative Instruments” that derive their authority from Her Majesty The Queen and are not subject to approval, annulment or amendment by Parliament. For the Royal Navy and the Royal Marines the Prerogative Instrument is an Order in Council under the Naval and Marine Pay and Pensions Act 1865. For the Army, it is the Army Pension Warrant 1977 and, for the Royal Air Force, the Queen’s Regulations.