Some Pension Numbers To Consider
To get a perspective on what the current pension proposals might mean to you in the future, consider where you would stand today if these proposals had been introduced during the last recession, 18 years ago, in 1990.
£29888 - maximum ATCO2 pensionable salary in 1990
£73777 – maximum ATCO2 pensionable salary in 2008 (a rise of 147%)
79% - The amount RPI rose between 1990 and 2008
96% - The amount RPI+0.5% rose between 1990 and 2008
£58580 – The amount of pensionable salary you would have today if pensionable salary had been restricted to RPI+0.5% (as is proposed under the pension restructure)
£15197 – The reduction of your pensionable salary from what your contract of employment said when you joined and what you would get now.
£49184 – Your projected pension in 2008 based on your terms and conditions in 1990 and retiring on 2/3rds annual salary
£39053 – Your actual pension after pegged to RPI+0.5%
£10131 – Your annual loss of pension based on 2/3rds final pensionable salary
20.6% - The percentage cut in your pension due to RPI+0.5% peg
£844 – The monthly amount (at todays prices) that you would lose on your future pension.
All figures are projected and based on published NATS salary scales and published Government RPI figures. Correct as of September 2008.
Feel free to adapt the salary figures for your own trade/branch, apply the RPI %ages and circulate round your own units.