757 operator,
To generate your pension at current levels, you will need a pension pot of around £3 million. Will you have actually produced that amount of wealth in your working life, in addition to what you've taken as salary and benefits?
To generate a pension at current levels, based upon retiring as a Captain after 30 years service, you need a pension pot of around £1.7 million, not £3 million, just under the government's new pension cap. BA shouldn't have promised it if they couldn't afford it. However, if you look at
www.bacanaffordtopay.com, which uses
BA's own figures, they can afford it. They would just prefer not to pay.
If you haven't, then your retirement is being subsidised by someone else, ie other employees, shareholders, etc. Is that fair and reasonable?
Whilst Pilots make up only 7% of the members of NAPS and they represent 27% of the schemes liabilities, it should not be forgotten that Pilot contributions to NAPS represent 28.2% of the total inflows to NAPS. Who's being subsidised by whom?