Proportionally, the pilots take out about the same as they put in to the fund. They contribute (including company contributions) somewhere between 25-30% of the fund and take out about the same. I don't have the exact figures to hand but they're in the high twenties percent.
That said, in pure cash terms, we pay more cash in so we should get more cash out. The pp24 is a bit of a red herring. Pilots at BA have a "pensionable" pay scale which is 80% of a given pay point and doesn't include allowances. The "final salary" is that number so if you have earned 30/52nds towards your pension, you would actually get 30/52nds of 80% of pp24 Basic Pay (or less if you haven't been in 24+ years).
A Captain retiring on pp24 after 30 years will in fact get a pension of 46% of his final "actual" basic salary on the current deal!!
Doesn't seem quite so rosy now does it considering BA want to give us 50% of that.
PS: I forgot to say that the 46% is also reduced by the "Abatement" of the state pension which at the moment is about £6000.
Last edited by Human Factor; 9th November 2006 at 21:15.