Existing NATS scheme members will remain in CAAPS and continue to accrue benefits on the current basis.
Surely capping at RPI + 0.5% is a change to our current basis??
In relation to a possible new scheme for future employees NATS indicated:
Only new employees will join any new scheme, under which they would contribute at a level that is more in line with the TUC's recommended 2:1 employer/employee funding ratio. New employees would have choices from Defined Benefit through to Defined Contribution Options at appropriate employee contribution rates.
The target date for a new scheme would be April 2008.
So he's achieved what he set out to achieve back in 2006 AND we've let him cut our own pensions.
I ask again WTF happened in those negotiations?
PLEASE make sure everyone at your units sees the (rough) figures bross_al posted. Even if they are rough ones it still makes scary reading.