First of all thank you for replying so eloquently.
However,
In the case of BA, both negotiation and consultation took place with the unions. However, there was always the possibility of the Trustees (or indeed the Pension Regulator) imposing a deal on the staff.
Both the unions and BA were bright enough to realise that this was not the best idea so they entered into negotiations, which resulted in the agreement between BA and the Trustees last week. As a result, the pension deal has been finalised. Legally, the unions get no input on this.
It may not have been the best idea (to get the regulator involved) for BA and the high paid. IE Pilots. But for the rest of us plebs who will have to foot the bill the regulator would have been a risk worth taking.
I am disgusted with the trustees. The pension I had has gone and I wasn't allowed to even question the decision. If a private or public financial organisation did this the FSA would have a field day!
Even worse, is that in 2009 they will be able to do it all again as part of the "shared responsibility".
