The negotiations do not start again if the Aug 2009 RPI is more negative than -3.5.
What the deal offers is
2% backdated to Jan 2009 paid asap after the ballot finishes. If the ballot finishes on 18th June, then there is no reason why the backdated 2% cannot be in the July pay packet (I think getting it in for 30th June might be a push!). The longer the ballot is delayed, the longer before any money is paid if it is a yes vote.
There is no talk of the 2% being withdrawn, as this is the underpin.
If RPI in Aug 2009 is between -1.8% and -2.7%, then there will be more money coming, up to a maximum additional 1%. Again, this will be backdated to Jan 2009 and all the monies will be fully pensionable.
If the Aug 2009 RPI is worse than -3.5%, then all the unions have agreed to do is talk with NATS. They haven't agreed to give anything away or to reduce salaries, simply to talk. That is what unions and management do.
Any talks are not about unpicking the deal but about any savings that may need to be made elsewhere (bit i'm sure the rumour mill will still say otherwise).
As has been mentioned, NATS charging is based on the Aug RPI, but this isn't just the 2008 RPI, but also the 2009 RPI. If the Chancellor is forecasting it to be -3.0% in Septmenber, perhaps the union forecasts aren't too far out (again i'm sure some on here will want to spin the ability to forecast!).
At the end of the day, members will need to make a call themselves on whether this is a good deal or not. I have no idea what PB is being paid, and I don't give a flying F@#k either. What I am concerned about is what I get paid and I think that this gives me at least an RPI pay rise over the 2 years with the potential for a bit more depending on how bad the Aug 2009 RPI turns out to be.
Over and out
