As it stands the offer on the table might as well be an overnight closure of a final salary scheme. Are you aware, Whoopsx3, that the company wants to cap all pensionable pay rises to 2.5% for the rest of my career, and then cap my pension at 2.5% when I finally get it?
Ask yourself what that means if inflation runs at 3% for the next 45 years. At the very least it makes a mockery of calling it a final salary scheme, as my final salary will have nothing to do with whatever pension I will get.
I assume Wx3 that you are fairly recently retired. Now ask yourself how you would feel if you were forced to work until 65 (and please don't give me the 'you can pay to take a pension earlier' - I can only if I win the lottery) in a job that leaves even me as a 30-something absolutely knackered.
Don't forget - I am possibly about to go on strike and if I get everything I am asking for I WILL STILL BE WORKING AN EXTRA 5 YEARS AND LOSING 10-15% OF MY PENSION. Surely thats not exactly an outrageous postion?
Sorry APS guys - people are livid and this will get nasty. Only dont blame us.