Maxrange - Thanks for putting this on the forum about the pensions regulator. I saw this in the paper today myself. What is going on in the political world? There was a reasonable deal offered by Lufthansa for our pension scheme, a plan backed up by financial advice and that nice Mr Regulator man said no stick it in the PPF. Now this article appears in the newspaper saying he is going to be more pragmatic! I think now the government has said to the regulator, ease up because the PPF is not a bottomless pit and much more burden and it will sink.
I really think this is enough to make the trustees go back to the drawing board with DLH and the regulator guys for a rethink now the regulator is 'being more pragmatic' as this all sucks. But I fear it ain't going to happen. Basically we are shafted, there's a big picture here and we don't figure.
Also in the FT today an article about how BA have got the bargain of the century with the purchase of BMI. I should say so! All the cream that's desperately needed for expansion at a choked LHR whilst the troops get their future (pensions) decimated and BA get us on the cheap to fly the slots. Is that the best they can do? Our old company were pussy cats compared to this lot.
Also I do wish the papers would stop printing that whilst the pilots are enraged they would get a maximum of £35000 odd from the PPF. That is rubbish! 99% of the pilots have a NRD of 60. The compensation is capped on a sliding scale according to retirement NRD. The figure they quote is for an NRD of 65 not 60. Then there is a 10% reduction to apply. A pilot with an NRD of 60 can only expect max of £26000 odd. A far cry from the FS scheme promise that we have paid up to 18% of our salary for in latter years.
Last edited by MrBenip; 23rd Apr 2012 at 05:59.