Grass strip basher.
Yes I know. I am paying max AVC and the pension still isn't close to what a NAPS pension is. I agree that FSS for me is a pie in sky idea, however Britannia have relented and offer it after 5 years service (in theory), so it is possible. As for public sector pensions don't vote for Composite 12 or you can kiss goodbye to them aswell and work to 65+.
The question is why are BA etc unwilling to fund pensions at previous levels any more? During the 90's stocks did so well that companies didn't see the point of paying in. Then the bubble burst and everyone has had to play catch up. Having got used to low contributions the corporate world is reluctant to pay at previous levels and hope that we will all blame ourelves for living longer and retire poorer or top ourselves.
The World is a nastier place this century and all the corporations have imposed this massive pay cut and expect us to be grateful. The bottom line is that they make more profit.
As a long term strategy it won't work because if half the population in 35 years time is on the poverty line how can they make money? I propose a moderate pension contribution from BA, your Bank and all the others. The BA contribution is unrealistic, it needs to double and then for their benefit of having us off their liabilities when we go it should pay a premium. The deal is the opposite.
Note the decline in the credibility of trade unions as we all become corporate minded individuals and the suicidal logic with which we all justify our worsening terms and conditions. It is fear that has been engineered into the equation that makes us all bleet.