eglnyt
NATS paid 12.2% up until April when it started paying 20%.
Nearly right - actually 22.6% until the end of 2008, then 20%.
This gives an average of 20% for the whole of 2008. See:
https://www.caaps.co.uk/axiseinterne...tributions.pdf
(you can open this without logging in to the CAAPS website).
Others may choose to comment on the actuary's statement!