Atlantic: Glad I'm not the only one who was surprised to see others do what we were told/advised we could not.
Standard Speed: Looking again at the figures from management it seems unclear as to what year 2 is likely to be -
"the November 2002 RPI + 1%; or 3.7%. The November 2002 RPI used would be either the underlying or headline rate (whichever is higher) as published in December 2002"
I read that to mean that if the headline rate is 1.4% and the underlying rate 2.4% then our settlement will be either 3.4% (larger RPI + 1%) or 3.7%.
No prizes for guessing which "or" will be awarded then!
Is it that the 3.7% should be regarded as a maximum? Can anyone (esp. IPMS reps) enlighten me?
Could we be looking at 2.2% this and not exceeding 3.7% next?