Originally Posted by
Joetom
CM and MP,
.
Post as much as you like, but anyone who takes 10mins with a pen and paper can see that pilots get a better pension deal than other staff inside BA,
Makes you wonder why BA and the trustees spend all that money on actuaries when anyone who takes 10 mins with a pen and paper can work out the funding of the scheme. They should ask for their money back.
Rimmer - with maths like yours I am surprised you can call yourself an engineer. Apart from the completely arbitrary nature you seem to have conveniently (perhaps deliberately) overlooked the effects of BAs contributions. BA have historically paid approximately 2.5 times the contributions of ground based workers and 3.8 times the contributions of pilots. Whether or not you like that is as irrelevant to the thread as whether or not you like pilots getting higher pay than other people. Its part of the remuneration package. So lets see what those numbers do to your simple figures:
The loader contributes £5850
BA contributes for him 2.5*£5850 = £14625
His total pension pot is £20475
His final pension in your example is £2500
That means he is receiving a pension equivalent to
12.2% of his total pot.
The pilot contributes £25154
BA contributes for him 3.8*£25154 = £95585
His total pension pot is £120739
His final pension in your example is £15512
That means he is receiving a pension equivalent to
12.8% of his total pot.
Given the totally arbitrary nature of your numbers and the inherent scope for error they introduce I would say that the loader and the pilot are on essentially the same deal.
You see this is why the pension trustees employ experts to advise them rather than just doing the sums themselves on the back of a fag packet.