Thursday, 7 September 2017

British Airways seeks to close main pension scheme

British Airways has announced proposals to close its main defined-benefit pension scheme in an effort to tackle what it says is a "significant and growing funding deficit".

BA said that if the plans went ahead, employees would no longer be able to make further payments into its New Airways Pension Scheme (NAPS).

It said this would protect the benefits that members had already earned.

But unions Unite and GMB have expressed "dismay and bitter disappointment".

BA said the proposals were part of a consultation that would be getting under way "in the coming weeks".
The airline said it had injected £3.5bn into NAPS since 2003, but the deficit had risen to £3.7bn by March this year.

BBC     News.

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