PPRuNe Forums - View Single Post - EK - Exchange Rate Protection Values Halved- New Joiners Be Warned
Old 31st Jan 2008, 08:13
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LazyPilotEK
 
Join Date: Jan 2008
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The ERP is not an advertising gimmick; it entered use well before the start of relatively recent intensive recruitment, and purely as a way to offset SOME of the effect of currency change. Logically, a pilot joining TODAY should not be eligible for most if not all of the ERP payment. This is because Emirates is not responsible for the exchange rate, no matter what benefit they receive from it. Those who have watched their home-currency effective salary drop by over 30% in the last five years are catered for to a predetermined extent by ERP. Those who join today knowing the rate isn't that good but accept it anyway still get an ERP payment, to the best of my knowledge, and therefore are AHEAD because the company want everyone on the same deal (secret deals aside). I know this isn't what people want to hear but let's be reasonable. We all joined knowing it is a five year rolling average. All that kept the payments up is a steady decline in the rate. But if the GBP rate has changed by 40% in one month then to my thinking, something is dead wrong.
Or can you just not read a contract?
If you think ERP is in your contract then I'd suggest a re-read might be in order.

Last edited by LazyPilotEK; 31st Jan 2008 at 10:15.
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