Originally Posted by
Jet II
surely it exactly the same for both sides - the changes are not retrospective so whatever you have paid in the past is banked then everyone pays the same under the new regime.
You seem to have overlooked the promise that the left side of the street could stop paying five years earlier. What price should be placed on that?
Let me ask you a question - The final salary pension is a fantastic deal for staff who have a pay that more than doubles in the term of their employment but as only a small group of staff have that benefit is that fair to the rest?
That is fairly irrelevant to the argument as the final salary scheme depends on
the final salary. The small group of staff could only disadvantage the other group if they paid the same personal and company contributions and yet took out more from the fund than they put in. The reality is that the small group make higher personal and company contributions and only take out of the fund a proportional share to what they put in, as the trustees will confirm.
The issue of the doubling of pay is something of a red herring here. The job pays the market rate for senior pilots. If you don't want the pay to double over a career you can cut the final pay or raise the starting pay.
Many of the arguments against the pilots on here seem to revolve around the single false premise that the pilots take out more from the fund than they put in. The trustees have confirmed this is not the case. I would like to see some arguments against the deal that are not based on this particular false premise.