I left bmi's final salary pension scheme (which is also closed to new entrants) to join ezy and am now in their money purchase scheme.
On the final salary forecast from the bmi scheme as an FO I'd receive a pension in today's terms of £25k. I paid a contribution of about £200 of my salary towards the scheme.
To achieve the same thing with easy it will cost me £550
extra. £750 per month out of your salary is a lot. Especially when I have well over 30 years still to run.
:o
Don't regret my move to my new employer but I wish I was still in bmi's pension scheme!
Think very carefully about leaving those schemes!
I hope BALPA protects all those left in FS schemes when your numbers dwindle.
PS JW411 if you want to go on about expenses in BA take it t o a new thread. Pensions are a bl**dy important topic and we should all be aware of the implications of the closure of final salary schemes.