From the NATS forum stranex says::
IF the pension changes are voted through, why will the short term future of the company be any better than if not? In the briefing note it states that company comtributuions may have to rise to around 40% (can't remember exact figure) but surely this is going to happen anyway as the number of staff in the new scheme would be minimal for the first 1-2yrs?
I agree the effects of the cap and two tier won't be felt for at least 5 years. NATS are hardly going to offer us earth-shattering increases in these so called current financial climes... or have they a bung lined up to get us to vote for a 2 tier pension but allowing NATS to keep their pension contributions down?
more likely they are taking a longer view to supress the pension scheme and set us up FOR SALE!
VOTE NO. Like somebody (sorry, too lazy to find ur screen name) said a couple of pages back, NATS does not need to fund 41% (if that's what it will be) every year. That's how much it will need in TOTAL. Therefore NATS must have a good case for going to the regulator and removing the cost pass through (else NATS go bust Mr. ERG - as they keep telling us) and asking the pension trustees to allow the money to be paid over three years (i.e. until the next triennial report).
NATS are very quick to take money out of the fund, but reluctant to put back in: "sorry guys our hands are tied, ERG, airlines, the bloke next door doesn't like it".
The way the scheme has been funded is like buying a wool jumper that fits perfectly in the shops (100% funding). But then you stick it in the washing machine (financial gloom) and lo and behold it shrinks and it doesn't fit anymore (deficit). Now you've got to chuck it away (close the scheme) or give it away (change terms and sell the company). The trick is to buy a slightly larger size (surplus) and when it comes out of the wash, it will still fit. In fact if it's large enough, it will still fit after several washes (downturns).
You don't want too big a size of jumper (surplus), but then again, you will be able to keep wearing it as the inevitable middle age spread kicks in (increased future commitments)
The pension is the main thing that keeps up locked into working for NATS, well that and working with some of the most professional and dedicated folks in the business. Let's hope NATS doesn't cut off it's nose to spite its face.