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Thread: BA end pension
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Old 12th May 2002 | 09:47
  #30 (permalink)  
Pax Vobiscum
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From: Location, Location
Sadly, Final Salary pension schemes have been on the way out for years (even before the Chancellor started dipping his sticky little fingers into the funds). They're a wonderful solution for those who can work for 20, 30, 40 years in the same job - but most of us no longer have any realistic expectation of that.

If you change jobs (by design or otherwise) every few years then building up your 'own' pot of money is the best solution (though you'd probably have to save 30% of your salary to achieve anything close to what you'd get from a final salary scheme).

From what I read (and remember I just sit in the back and let you get on with the driving), BA pilots are one of the last major groups of UK employees who do expect/hope to stay in the same job for life. If you are of that opinion, you'll be much better off with a final salary scheme - but do you honestly believe that's a realistic expectation for a new recruit?

Pax Vobiscum

(Lapsed actuary with 20+ years in the insurance industry)
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