Are you sure? BAA is (was) listed on the LSE (I don't know the consequences of the Ferrovial takeover). So pensions and savings will be affected (at least in part) by it's performance.
Yes, absolutely sure, as a former shareholder.
Ferrovial bought all the shares; none left. Woofrey is quite right.
However, the BAA pension fund IS presently in a reasonably healthy state (i.e. with a quite small 'black hole'). If it were to close to new members, but not be interfered with, then there is a good chance that it could meet its commitments to present members. Remember, as the years roll on, the numbers in the scheme get smaller and smaller, so the pot can afford to shrink.
On the other hand, it'll need to keep going for around another 80 years, assuming a new recruit currently aged 20 lives to be a hundred. I think that the aviation industry will be long gone by then, with the oil situation etc.
Cheers,
TheOddOne
TheOddOne