Is the military retirement pay system being scrapped?

I recently came across an article about the military changing the retired pay system. In essence they will put it more in line with the guard and reserves pay system. This means retired pay will begin anywhere from 57 to 62 years of age depending on how long you serve. I certainly hope this will not affect currently retired members because I depend on my retirement to live. How can they do something so disastrous to members of the military? I'm only 53 years old.

Public Comments

1. I would not doubt if it changes though there has been no serious talk on it. It would be disastrous for recruiting efforts. I think you may see something along the lines of the Canadians or British where you are vested at 10 years. The benefit being that you get something at 10 years of service but you wouldn't get it until later and the longer you serve the more you get sooner. The way it is right now you get zilch unless you serve 20 years and 1 day. Anything less than that and you get nothing. And anything they change will not affect those currently in who would fall under whatever retirement system they enlisted under. Thsi has been the case historically.
2. If you remember a few years back, around the mid 80s - early 90s they did revise the retirement system. Everyone who enlisted prior to a certain period would still keep the original program. I can't recall exactly what it was but similar to what you are referring to. I think it was at 20 years you would get only 40% of base pay then it would increase 2.5% to max at 50% 10 yrs after retirement. It would be similar % for those retiring at various times up to 30 years. That system lasted only a few years until they started having problems recruiting people because of the continuing saga, Iraq Part I. then they change it back to the original 20 year program. Everyone that enlisted with that revised system were switched back to the system that we have now. Chances are, a change like that won't happen again or at least would not effect anyone already under the current system. Check these documents out : Dated 2002 http://www.globalsecurity.org/military/library/report/crs/IB85159.pdf Dated 2005 http://shelby.senate.gov/legislation/DMRB.pdf Dated 2006 http://www.fas.org/sgp/crs/natsec/IB85159.pdf Nov 2007 http://www.loc.gov/rr/frd/pdf-files/CNGR_Summary-Military-Retirement.pdf
3. There is no way this will change. No chance. You don't want to screw with the people that protect this country.
4. Don't ever believe they would change it for those of us who are out. All of us have seen it change...Remember High 3 Fully believe we could see changes in the future. http://www.defenselink.mil/News/newsarticle.aspx?id=50702 MSgt Ret USAF
5. IT IS NOT GOING TO HAPPEN. You are fine regardless as they won't make this retroactive. You are retired. So don't worry about whatever Obama hopie dopey puts out. Your retirement is secure.