Originally Posted by
Lima Juliet
This on the front page of The Times:
So hopefully more towards 6% than 5%! There will also hopefully be further good news on the development of Aircrew pay expected to be announced next year. Yes, and as BV says, the pension is still very good and so has to be viewed as part of the deal
(hopefully with a ~6% increase baked into the career averaging element for AFPS15). We just need inflation to nudge below 6% soon to feel a little better about it (not forgetting the average for FY22/23 was around 9%, so as this rise is effectively “in arrears” for last year’s inflation, it yet again falls behind and devalues pay).
Ever the optimist, if inflation does go down below 5% by the end of the year, then a similar 6% next year would start to see value being added again for the financial year we are in now.
I believe the increase to AFPS15 is related to average earnings which was 7% this year, this increase has been applied already to the 15 part (the pension calculator hasn't been updated yet though). The 75 uplift depends on the pay rise we get so no doubt will be lower.