Although the new pension plan is better than the garbage DC pension that was literally an embarrassment to the occupation, it ultimately is based on career earnings.
And the problem with that is that you need to make more overall. With 4 years of flat pay and 600 furloughs who got 0 years of service, it's a bit of a dumpster fire.
It's too bad the union wasn't able to negotiate anything for them and it's embarrassing when you look around the industry when the flag carrier is supposed to be the leader
It is particularly embarrassing when you consider the government gave the membership a true opportunity for gains for junior pilots in regards to reserve but couldn't even secure gains. Apparently monthly hours guarantees that were negotiated for everyone else don't apply to flat pay pilots. I guess the junior pilots need to pay their dues after paying their dues.
Pilots will be looking to higher paying positions to improve their pension but at the cost of being junior for their whole career with endless reserve and assumingly a need to commute given the cost of living near the bases. Of course they don't negotiate commuting policies either unlike every other outfit out there
Hopefully there are some competent negotiaters in place for the next round or at least a pathway to a competent union.
Pension
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schnitzel2k3
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Re: Pension
Montroyal wrote: ↑Wed Mar 02, 2022 7:33 pm Although the new pension plan is better than the garbage DC pension that was literally an embarrassment to the occupation, it ultimately is based on career earnings.
And the problem with that is that you need to make more overall. With 4 years of flat pay and 600 furloughs who got 0 years of service, it's a bit of a dumpster fire.
It's too bad the union wasn't able to negotiate anything for them and it's embarrassing when you look around the industry when the flag carrier is supposed to be the leader
It is particularly embarrassing when you consider the government gave the membership a true opportunity for gains for junior pilots in regards to reserve but couldn't even secure gains. Apparently monthly hours guarantees that were negotiated for everyone else don't apply to flat pay pilots. I guess the junior pilots need to pay their dues after paying their dues.
Pilots will be looking to higher paying positions to improve their pension but at the cost of being junior for their whole career with endless reserve and assumingly a need to commute given the cost of living near the bases. Of course they don't negotiate commuting policies either unlike every other outfit out there
Hopefully there are some competent negotiaters in place for the next round or at least a pathway to a competent union.
