Originally Posted by
Joetom
If NAPs 1 and 2 are being closed/shut down from what I understand, I would hope a fair employer would offer the same pension deal or options to all staff!!
Joetom, the deal
is the same for all staff with the only exception being the transitional arrangements for flying staff (cabin crew and pilots) which were always on the table.
If you recall, in BA's original offer, there was a transition of 5 years to cushion the blow of moving from a retirement age of 55 to 65 in one hit when all other staff were only moving 5 years from 60 to 65. All that has happened is the unions have agreed for this money to be used in a different manner i.e. to increase the pensionable pay scales for new NAPS for pilots and the cabin crew have yet to decide what to do with theirs.
The money was always there and has not changed. The only thing the unions did was to spot that this reduced after 5 years and persuaded BA that, if they can afford in now, they can afford it in 5 years time.
You are right that for new NAPs for pilots, under the terms of this deal, the pensionable pay scales rise but don't forget that this also increases the amount that is paid in by the individual as the contribution rates are 8.5% and 5.25%
of pensionable pay for option 1 and 2 respectively. So they put more in but get more out.
Cabin crew have yet to decide what to do with their share of the transitional money (which I emphasise was alway on the table and only offered to flying staff in the first place) but they may elect to increase pensionable pay scales as well.