Just as a benchmark for you I work for a large bank in the city... my company pays in 10% of my salary a year to a pension fund (note it is not reduced to 75% of salary... how do BA get away with that!?!).
We also have some people on the old defined benefit schemes but they are now few and far between. My forecast pension is not too dissimilar to the £9-10k you quote. I have to make substantial additional voluntary contributions to have any hope of a comfortable retirement.
This is not a BA specific issue (apart from the greater % of people in the company on the old scheme)... this is systemic of the problems faced by an ageing population in the UK.
I hate to say it but if you want a final salary scheme now the only place you are likely to get it is in the public sector....
Oh yes you can also look forward to being taxed more in your retirement to pay for all the fat cat civil servants on their large final salary schemes.... the gap between people being screwed in the private sector and the huge latent liability of final salary pension in the public sector is growing everyday... who do you think is going to pay their pensions???.....oh well may as well go out blow it all on booze and fags and sod the long and happy retirement...
