There is a lot of concern regarding the probable length of this contract and how inflation will affect the buying power of the employees if it extends beyond the 5 year point.
However, if it does go beyond 5 years, the company has to adjust the entire payscale relative to the consumer price index commencing in 2013.
I'll base my numbers on a 4 year captain today and a 3% cost of living adjustment to the payscale 5 years from now. 5 years from now a 4 year captain will be a 9 year captain.
9 year capt 7/7: 115,000 cpi adjust: 118,000
10 yr capt 7/7: 119,000 cpi adjust: 125,000
11 yr capt 7/7 123,000 cpi adjust: 133,000
12 yr cpat 7/7 127,000 cpi adjust: 141,500
This is the beauty of a cpi adjustment on top of a longevity raise. The 12th year has a 14,5000 dollar difference in salary compared to no cpi adjustment.
The numbers for the 15 day and fixed 18 day schedule are 156,000 and 172,000 for a 12 year Capt in the above example. I think most people could survive on this pay with no problem.