PPRuNe Forums - View Single Post - BA seeks volunteers for unpaid leave/work
Old 1st Jul 2009, 21:52
  #107 (permalink)  
M.Mouse

Controversial, moi?
 
Join Date: Oct 2000
Location: UK
Posts: 1,607
Likes: 0
Received 2 Likes on 1 Post
So many misunderstandings.

Some APS pensioners are on six figure pensions. Those under the old old contract witha retirement age of 50 could 'crystalise' their pensions at 50. In effect they paid no more contributions but the pension value continued to increase to retirement at 55. It virtually doubled the employees pension. QUite how I do not know but that is a fact and good luck to those lucky enough to retire before the thieving Brown hammered the final nails into the UK private pension schemes.

Also when people glibly talk of BA closing NAPS it is financially impossible for them to do so. If they did the funding requirements are calculated on a 'discontinuance' basis and the last numbers I heard were that the cost would be around £6bn, and that was a year or two ago. The current deficit is around £3bn. There are ways of reducing the liabilities (deficit) and those negotiations between BA, employees, trustees and the regulator will occupy much of next year.
M.Mouse is offline