Bean_Counter
APS is the 'Airways Pension Scheme' which has been closed to new members for a couple of decades. NAPS is the 'New Airways Pension Scheme' which has recently been closed to new members.
The majority of serving BA staff are members of NAPS which is seriously in deficit. There are still a significant number of serving BA staff who are members of APS which is, as I say, in surplus. APS is a 'mature' scheme under the legislation.
I believe the order of asset disposal I quoted is correct although there will, as you say, be some discretion given to the trustees on the detail of asset disposal.
I found my information from the 'Pensions Ombudsman' who were very efficient in answering my queries by e-mail. I am a 'deferred' pensioner with a great interest in the financial standing of the APS scheme.
Worrying times indeed for all potential 'retirees'. The survival of BA is particularly important to those in NAPS, but for those in APS BA's survival is a very important piece of security.
I'm very thankful that BA's proposed merger of APS and NAPS was blocked in the High Court.
Regards
Exeng