Heatrae Sadia links pay to underlying inflation
No. covered: 450
Increase: 3%, RPIX plus0.75% in second year
Length of agreement: 2 years
Date: 1 April 2002
Holidays: 25 + 8
A two-year pay deal at Heatrae Sadia, which provided a 3% rise on bonus and basic in April, links next year's pay increase to the underlying rate of inflation (known as RPIX). RPIX reflects the increase in prices excluding mortgage interest payments and has not fallen as low as the 'all items' rate during the past year. Next year's increase will be the March 2003 RPIX figure plus 0.75%. The deal also includes increased holiday flexibility (allowing half-day holidays) and a one-off £100 payment at Christmas 2002 for acceptance of a two-year deal.