BA pension problems
The fact is that I have done a lot more years in BA than you have...M. Mouse ....and now as a retiree looking at the BA working pilots situation I would be very upset if I was them and had the prospect of pensionable pay wasting away over the years that I had to go to retirement. The example case I produced earlier was just a 1.5 % gap average between RPI and wage inflation. Over my 30 plus years in BA it was always more than that.
Those conservative figures of a pay gap will HALVE pensionable pay with respect to normal earnings in 20 years in 30 years produce a 65% gap.
You may be able to maintain the calculator by paying a lot more in but it will be based on a fraction of your basic earnings when you retire.
Currently pensionable pay is 20% below basic earnings which is what it was when I retired with APS but even an APS pension would have been rubbish if the pensionable pay was 65% below basic earnings and the calculator was applied to that. A top salary captain would have a pension of £35000 on that basis if he retired today. Just about half what an APS captain retired on 2 years ago.
As I said before this deal is good for the senior guys with a lot of time in the old NAPS but it is very bad for those who are junior and will take the full brunt of the RPI cap on pensionable pay.
You can pretend that it is a good deal, and it is.... but only for the senior pilots. It is a shame that BA pilots T and Cs just continue to go down for the future pilots in the company.
As I said before it is BALPA history repeating itself.