BA seeks to close NAPS pension scheme
Sep 7, 2017, 2:30 pm
#16
Join Date: Jan 2008
Posts: 3,839
Sep 7, 2017, 2:59 pm
#18
Join Date: Aug 2009
Posts: 645
Other DB schemes are in exactly the same boat, like my company's old DB scheme. Schemes have to do funding plans and the markets have not moved in line with the expectations underlying those. Pumping in cash doesn't matter if you have to invest it in money market assets that aren't performing anywhere like as well as expected. The return on those assets at the moment doesn't cover the increase in liabilities e.g. from inflation, increased life expectancy of members and built in pension increases.
Sep 7, 2017, 3:18 pm
#19
Join Date: Dec 2010
Location: London
Programs: BA Lifetime Gold(twice), Hilton Diamond
Posts: 679
Envy
Modern pension schemes? Don't trouble yourself T8191, it only concerns the rest of the population. (I'm well in your age bracket incidentally, but not on a final salary index linked pension, like wot you are).
Sep 7, 2017, 3:25 pm
#20
Join Date: Nov 2014
Posts: 935
Whilst paying over £3.5bln into the pension since 2003 (although I cannot find the figures to back this up), BA have made an operating profit of over £8bln, there is plenty of money to contribute but as you say it is down to choices.
Sep 7, 2017, 4:19 pm
#22
Join Date: Jul 2014
Location: UK - Hampshire & London
Programs: Mucci de Guardian des Celliers des Grands Crus 1e Classé, plus BAEC.
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I'm just envious as well Uncle T!
Sep 7, 2017, 4:29 pm
#23
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It is probably coming on the back of this decision, which has ramifications for not only pension schemes but everything an employee may have been led to believe by their employer, and that no employee can have any reasonable expectation that anything they are told by their employer is binding:
IBM defined benefit pension scheme changes were not made in bad faith, appeal court rules
IBM defined benefit pension scheme changes were not made in bad faith, appeal court rules
Sep 7, 2017, 5:13 pm
#25
Original Poster
Join Date: Jun 2016
Location: London
Programs: BAEC Silver, Skywards Silver
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It is probably coming on the back of this decision, which has ramifications for not only pension schemes but everything an employee may have been led to believe by their employer, and that no employee can have any reasonable expectation that anything they are told by their employer is binding:
IBM defined benefit pension scheme changes were not made in bad faith, appeal court rules
IBM defined benefit pension scheme changes were not made in bad faith, appeal court rules
Sep 7, 2017, 5:16 pm
#26
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Location: Brighton. UK
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I don't think that this is appropriate for discussion on this forum.
how would some posters like having their pension arrangements talked about in this way?
how would some posters like having their pension arrangements talked about in this way?
Sep 7, 2017, 5:18 pm
#27
Join Date: Jun 2015
Location: LHR, LGW
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Sep 7, 2017, 8:26 pm
#28
Join Date: Jan 2005
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Posts: 4,350
And as is often the caee with these long running disputes, those affected by them have long since forgotten what the issue is and usually don't care anyway.
Sep 8, 2017, 12:01 am
#29
Ambassador: Emirates Airlines
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Sep 8, 2017, 1:16 am
#30
Join Date: Nov 2010
Posts: 5,596
Depends on the depth of feeling.A pilots strike would be far more damaging than the recent mixed fleet strike.Thomas Cook pilots have a 12 hour strike today.