Not a fan. Despite first year RPI plus 0.5% the restrictions in second year (cap / rise in core pay only not asap etc.) mean there is a real chance this will be a below cost of living increase. Given that the company continues to be financially strong (interim dividends) and we are potentially in a very strong negotiating position with an aava agreement which was due to end and a significant demand for overtime due to projects such as ifacts I feel we're selling ourselves a little short giving so much (aava AND met) for comparatively little.
We will not have this situation again during the next pay talks (during which I assume we'd hope again to get a cost of living increase but may not have much to sell)
If we feel we can't achieve cost of living increases without eroding ts & cs at at time when the company is making good profits then I worry for us going forward.