Having attended a pension brief today i have a few concerns;
1. What happens in 4/5/6 years time and NATS come back to the union saying
" sorry RPI +.5% wasn't good enough and we need RPI -0.5% to make the shortfall the actuaries were wrong" ?
2. I accept the scheme does have to close due to the expense but close and have the RPI cap! this seems all one side i.e. NATS!
3. What happens in 15yrs when the ratio is 40% - 60% and the Prospect members re vote over our pension and they "go with the majority" as they told me today?
4. There is no plan B and by voting NO i was told " i would be rolling a dice with my pension"!
5. The current Banding is frozen at the moment. What happens if they ever re band in the next 15yrs? Does this mean they will cap the relevant increase into your pension?
6. If the NATS contribution falls below 18% the NTUS will (at that time and off cuff) negotiate a deal for the money being saved and then pass it on to us! Very wishy washy!
7. If we go bust then the new NATS we work for will be able to change the pension scheme without consultation? Is this correct?
So, i think there are too many loose ends and i will probably vote NO! I think there is a better deal to be had.
At the end of the day i need to secure my retirement with the best possible deal without the words " it was a tough 2 yrs of meeting look how well we have done" more like you should have played hard ball just like Paul Barron did
