Interesting article in today's Mail concerning 'unfunded pensions, of which the Armed Forces scheme is one. The article also indicates that the intro of AFPS 05 reduced the benefit from that provided under AFPS 75, but that the reduction, as with other 'unfunded pension' areas, may not have been deep enough. .. Armed forces (200,000): Pension age still 55, but those who quit early cannot claim until 65, not 60. Rate pension builds up at cut from 1/69th a year to 1/70th for ranks. Spouse's benefits enhanced. Old deal worth 39 per cent on top of pay; now 38 per cent. http://www.dailymail.co.uk/money/article-1284280/The-great-pension-debate-Pruning-cost-pay-go.html Interesting times ahead perhaps. What price an AFPS 11 or 12?