When NATS was privatised ten years ago Lord Prescott of Kingston upon Hull was the sponsor to a number of guarantees to safeguard the pension provision of the employees.
Three years ago the employees voted to voluntarily change the pension provision for new entrants and subsequently there have been further changes such as final pension payments excluding UHP and overtime which for PCS grades boosted their final pension and restrictions on the purchase of AVCs linked to the CAA Pension Scheme.
I wonder if by voluntarily voting for changes to the original scheme after the legal guarantees have been implemented then those guarantees have been compromised by the employees themselves if in the future NATS wanted to change the pension scheme completely to a much inferior scheme such as a money purchase scheme where all the risk is transferred to the employee and the pension has no guarantees?