A very small 2% increase but only if we put in an extra 2% too. Hardly setting the world on fire is it. I, like many others, take advantage of the smart AVC scheme so put in a bit extra anyway but of course with the caveat that I have the option to stop those at any time if money gets tight one month. I also note that the current ratio hasn't been maintained. If IAG want us to put in an extra 2% I would expect the company to put in and additional 4%, in line with the current 1:2 ratio being 6% and 12% respectively. This becomes 8% and 16%. I really don't see that as unreasonable and while 2 and 2 is a starting point, it shouldn't be the final result.
That said, I've got mates that have just lost their jobs at MON and frankly I feel a bit of an arse discussing how much our pensions are increasing by at such a sad time, but we mustn't let core t's and c's decline further.
Many will disagree but just my thoughts.