DAL208
Almost correct.
If the RPI is worse than -3.5%, then there will be re-negotiations.
It is a condition of the deal that should RPI prove to be as or more negative than -3.5% in August 2009 that NATS and the NTUS will enter into early discussions to seek to address this issue.
You can bet your bottom dollar that the 2% offer will be withdrawn.
For every 0.1% the the RPI is greater than -3.5% i.e. -3.4%, then we get a 0.1% addition to thebase 2%.
i.e. if RPI is -3.4%, our pay rise is 2.1%, RPI is -3.3% pay rise will be 2.2% etc to a maximum pay rise of 3%... backdated to Jan 09, no new pay rise until at least Jan 2011.
To find out what will happen, we have to wait for the August RPI figure.
Salary runs need to be done by mid month to be included in that months pay packet... I think cut off is the 14th of the month, certainly no later, but I think it could well be earlier.
So we have to wait for the Aug RPI figure to be published.
If it is lower than -3.5%, we start again.
If it is -3.5% or greater, we get the resultant pay, backdated to Jan 09. However, NATS are drafting in a specialist company to work out the back pay as it is seemingly complicated due to the SMART pensions. This will take a bit of time.
The earliest you can reasonably expect to get your pay increase is September pay packet - at a push.
I've been told by a couple of friends who are reps that they believe it may take as long as 2 months to sort the figures out i.e. October/November pay packet...