Tartiflette Fan
A company/private pension can be drawn without penalty at age 55. NAPS and APS are now deferred pension schemes. yes, they are in deficit but they are no longer linked to final salary. They are essentially a finite cost . That's why they have been closed.
What is interesting is the size of the CETV currently being offered. Well in excess of the actual individual fund 'values'. This suggests to me that the fund owners are trying to rid themselves of liabilities. IE Current staff.
What is a real fear (to me at least) is that if BA cannot access their biggest market very soon, they will not survive and my pension will be reduced to 80% of its current value when it's picked up by the PPF.
Even those who are currently employed and not in immediate danger of redundancy are looking at drawing their pension just to protect it if BA actually go to the wall.
Waiting time for pension packs and CETV estimates is currently 3 months!!