The way I read that is that it doesn't prohibit the Congress from giving themselves pay raises, which they have made automatic anyway. But that the next pay raise can not take effect until after the next election cycle.
Wouldn't you like to have a job which as soon as you are hired you get an automatic pay raise, before you even start to work? And know that you are going to get another automatic pay raise every time your bosses did an evaluation on your job proformance, if you are rehired?