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and any new pilots or those signing up get screwed

Yes, but not by as much as it looks. A 25 year career works out about even for new applicants. If your plan is to have a full career, you're just as well off or better. If you plan on getting a few thousand hours and going to civvie street, then you're going to make less.

Using 3% discount rate (money now is better than money later), including the upcoming 6.1% increase, including aircrew allowance: The present value of new total compensation only exceeds the old total compensation once you've completed 18-19 years as a Captain. 4 years RMC, 3 years training, and you're looking at a 25 year long break even point. You could argue for a higher discount rate, and I'd probably agree, but...

...the pension is much better. And if you choose to stay longer than 25, the pay is much better. It also incentivizes trying to get promoted because the pay for Majors is higher now.

It accomplishes its goals, I think, without being too unfair. And I'm saying this as someone who will be making less for quite a while because of this.

/r/CanadianForces Thread Parent