Viewing the FSS versus a money purchase scheme, there is possibly another angle to consider.
NAPS is very badly under funded at the moment. If that situation continues, and for any number of reasons BA go bust, those currently contributing will face a very poor future and may indeed lose nearly all of their contributions. (Pension legislation requires that those in receipt of a pension take precedence over those who have yet to receive one.) Any 'new entrants' contributions will remain 'safe' of course because they belong to those individuals little 'pot'.
I am sure many will say, "BA won't go bust, surely not." Well I hope they never do but no one imagined that EASTERN, BRANNIFF, PAN AM, TWA, SWISSAIR, SABENA, etc would either.
The fact that BA has decided to end FSS smacks of desperation and will only cause moral amongst the troops to further diminish. And if the troops are not pulling together then the chances of complete business failure are that much greater. Of course I wouldn't expect the management team to have thought that far ahead, they are only considering the future funding requirements of an under funded scheme.
They really do seem to have lost sight of the fact that any airlines greatest asset is its staff, if you fail to look after that asset then the future will be bleak. Perhaps they don't teach that these days at Harvard business school.
If you are contributor to NAPS then it really is a question of 'how lucky do you feel'? With the current management team (whom seem to be the on the receiving end of many unpleasant articles in the financial press at the moment) I would be keeping both my fingers and my toes crossed when I go to bed at night.
Regards
Exeng