BA seeks to close NAPS pension scheme
Sep 14, 2017, 4:23 pm
#76
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Sep 20, 2017, 12:08 am
#79
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thanks for the update.
jusf saw this on Financial Times
‘British Airways proposes new pension plan’
https://www.ft.com/content/f69f3741-...b-9d49bcb0061b
jusf saw this on Financial Times
‘British Airways proposes new pension plan’
https://www.ft.com/content/f69f3741-...b-9d49bcb0061b
Sep 30, 2017, 3:13 am
#81
Join Date: Sep 2017
Posts: 1
I've entered the working world when jobs for life were gone, getting on the property ladder without a significant inheritance - which I never had - impossible, and defined benefits pensions no longer available. In other words, I'm on BARP, the defined contribution pension scheme of BA.
Maria Da Cunha's email mentions NAPS deficits that can only be described as Greek. Frankly, I don't see any other way but to shut it down and freeze it to future contributions. The youngest NAPS subscriber will nonetheless get a pension that is double the one of any defined benefit chap anyway...
Maria Da Cunha's email mentions NAPS deficits that can only be described as Greek. Frankly, I don't see any other way but to shut it down and freeze it to future contributions. The youngest NAPS subscriber will nonetheless get a pension that is double the one of any defined benefit chap anyway...
If you think the same won’t happen to whatever scheme replaces it in 15-20 years you are mistaken.
Sep 30, 2017, 2:09 pm
#82
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The NAPS members have paid in much more than you and will lose in many cases Ł200,000 plus in retirement, money that was promised I then and forms part of their package.
If you think the same won’t happen to whatever scheme replaces it in 15-20 years you are mistaken.
If you think the same won’t happen to whatever scheme replaces it in 15-20 years you are mistaken.
I view pensions not managed by their beneficiaries as a bit suspect, always seems to me that that the aims of the beneficiaries and the managers are not aligned.
I keep meaning to set up a SIPP myself but it seems like a lot of work.
My 21 year old colleague turned up with a SIPP form on his desk on Friday which rather reminded me I ought to consider it!
Dec 9, 2017, 8:20 am
#83
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An update on the pension situation in today's Times, the 60 day consultation period has ended and Unite has written to its members, appearing to accept the plan, stating "We have no choice but to deal with the reality of the situation we face".
From April next year BA intends to put all 37000 workers into a new scheme, into which the company will pay a guaranteed 5% of salary, irrespective of employee contributions, and up to 11% if an employee contributes 5%.
From April next year BA intends to put all 37000 workers into a new scheme, into which the company will pay a guaranteed 5% of salary, irrespective of employee contributions, and up to 11% if an employee contributes 5%.
Dec 9, 2017, 12:25 pm
#84
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Dec 9, 2017, 1:56 pm
#85
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If BA carries on paying 11% or in a couple of years time dials that back as they have a tendancy to do.