They mean that the pension Sir Fred had earned to date would be payable at age 50, rather than age 60, without any reduction for early retirement.

BBC: Goodwin's pension hits ?703,000

Pension rights accrued under the existing sections will be protected, so pensions earned up to the change-over date of April 2015 will be payable at the current retirement ages.

BBC: Pension reforms for military outlined by MoD

After all, CVRs are only payable upon the occurrence of some milestone event by a future date.

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