The modeller shows you what your pension will be based on final salary X (RPI + X) figure that you put in and also shows what it would be X (RPI + 0.5).
So if you put in 1.5% like the acturies use or 2.5% (which is what we ATCOs have had on average over the last 10 years) then it will give you a rough idea what you'll be on. With 10 years to go I guess you are top of your scale. If not it allows you to add in incremental rises and factors it in.
So anyone can work out what they'll roughly retire on if the status quo remains Vs the proposed deal.
It also shows the SMART pension benefit. I'll be a whole £44 better off each year!!
You're right about the lump sum though. It would be nice to see what the reduced pension would be reduced to further!
So for myself:
As it stands based on
RPI + 1.5% I'd be 10k worse off at retirement
RPI + 2.5% id be circa 15k worse off.
Would I vote for a paydeal that was between minus 12-15%? No chance!
Try it and get others to try it. Even if all it does is highlight and provoke discussion.