Take a deep look at these numbers guys. In 3yrs NAPS went from a £2.1B to a £2,7B deficit whilst APS went from £22M to £1BM deficit. So why should APS which is largely 95% closed have a much larger deficit????
Either BA is being very economical with the truth re the NAPS deficit, or maybe some cross fertilisation is taking place between the funds.
One other oddity is that the trustees expect NAPS to grow at 2.5% whist APS is only growing at .5%. Also the chairman of the trustees is resigning Roger Maynard, why? I am very unhappy with this report and feel others should start asking serious questions.