Suggest you go to the channel 4 site for starters before you respond!
A commitee isnt going to solve the problem but an undertaking from your employer regarding their intention regarding the long term future of the fund is an obvious help.
No point writing to President Blair or Brown, it was Browns tax changes in 1997 that started the slippery slope for final salary pensions. Best option is to vote this pathetic goverment out.
What do I expect BALPA to do;
Well considering the small amount of airlines there are in this country I would expect them to write to each company and get an undertaking of intention as sugested on the channel 4 site.
They could also suggest that each company operating a final salary scheme produce a 6 monthly forecast for each member stating the likelyhood that the fund can meet its obligations. If you have a unit trust you get this information, so why not a pension forecast based on whats in the fund and whats likely to be paid out.(Please do not confuse this with the statement of the amount you will get on retirement).
There aslo should be a change in the law that allows companies to withold this information. Failure to disclose or pay a pension should be treated like any other breach of contact within employment law.
Theres a lot more that could be done if more pilots became united to ensure companies are not going to explore the pension loopholes. Tomorrow is to late.
No point writing to President Blair or Brown, it was Browns tax changes in 1997 that started the slippery slope for final salary pensions. Best option is to vote this pathetic goverment out.
What do I expect BALPA to do;
Well considering the small amount of airlines there are in this country I would expect them to write to each company and get an undertaking of intention as sugested on the channel 4 site.
They could also suggest that each company operating a final salary scheme produce a 6 monthly forecast for each member stating the likelyhood that the fund can meet its obligations. If you have a unit trust you get this information, so why not a pension forecast based on whats in the fund and whats likely to be paid out.(Please do not confuse this with the statement of the amount you will get on retirement).
There aslo should be a change in the law that allows companies to withold this information. Failure to disclose or pay a pension should be treated like any other breach of contact within employment law.
Theres a lot more that could be done if more pilots became united to ensure companies are not going to explore the pension loopholes. Tomorrow is to late, action needs to be taken now. get on the channel 4 site print off the letter and send it to your CEO dont wait around for some commitee to help you out. remeber camels and humps!