Just trying to be realistic. I have just listened to a recording on the BBC of Moneybox Live on Sunday evening. One of the questions was about what happens if a final Salary scheme is wound up because the company goes under.
Well, we are protected but only up to a cap of 28k. And I know that is a worse case scenario.
Now I know all about the government promises but frankly should NATS go under all bets will be off.
ATCOs hold all the cards and can play hardball
I bet the guys and gals out at loss making airports don't agree on that one.
According to our union reps the give and take part has been done. From the starting point things have moved a long way in our favour apparently.
Do you all really trust your reps so little that you think they just rolled over on this one. It is over a year since the talks started. I believe NATS wanted a much higher "cap" and ad infinitum. They were also not really interested in going over about 7% as a contribution to a new DC scheme. If you don't think they are significant concessions in the pension context then you really are off a different planet.
These are massive concessions aimed at trying to maintain the long term viability of the scheme whilst ensuring new comers are part of, what will be, one of the best DC schemes in the country. And still we think there is more to squeeze out.
