One Nats One Pension!!!
Hmmm now lets see..... so we fight for one pension and come January the company is forced by the actuaries to start paying a contribution rate of 40ish percent. The airlines will not allow this cost to be passed on and neither will the regulator, so NATS has to foot the bill. Thats got to be near to a 100 million pounds a year in savings needing to be made. Now I know for a fact a certain large unit in Hampshire has struggled to make a 9 million pounds saving in a couple of years, so what chance do they have... none.
Either the company goes bust or they have to start selling bits. First to go will be NSL with its loss making contracts and high pension costs. Now i'm not sure about those covered by the trust promise but the rest of us are knackered as the new owner only has to endeavor!!! to maintain the current scheme. If bits aren't sold the company will go bust, and the government will be called upon to bail us out. They'll probably do it but then its the same situation again new owner will get hold of us and then its new terms and conditions and bye bye pension anyway for alot of us.
Don't be too hasty to slam this new deal because the alternative may not be much better. Get all the info first then get angry if you need to.