Some interesting Pension info

[Hugh Jampton]

TT, Did the financial organisations that recommended you move out of the BA scheme also set you up with the new private scheme?
Just askin' as if they did, then maybe their altruism was coloured by a nice big fat wedge of commission!

[yotty]

Aye Mr Grumpy I was! quote They stagger on in the misguided belief that if they ignore the problem it will go away and everything will go back to how it used to be quote. I'd still like to know who "they" are!

[Obi-wan Kenobi]

Surely you hear the voices too......?

[TinyTim2]

The advisers didn't recommend a particular scheme , because of my impending move overseas , so would have got nothing out of the advice one way or the other......

And yes I think I misread the ealier post........"They" would be the BA Pension schemes and those who are fighting to keep it them ( APS & NAPS ) just the same as they have always been , including some of my old workmates who still believe that they will get everything they were promised when they retire in 20 years time..........

[Mr Grumpy]

With 7 years to go it's a bit late to do anything else but sit it out.

[yotty]

Another snippit of info taken from APS werbsite. Recovery Plan
Having identified a deficit, the Pensions Act 2004 requires that a Recovery Plan is put into
place to bring the Scheme back into balance as quickly as possible. The Recovery Plan is an
agreement with British Airways regarding the future contributions and payments that will
be made to the Scheme over the coming years to repair the deficit.
When setting the Recovery Plan it is possible for changes in investment conditions and
asset values since the valuation date to be considered. The changes in investment
conditions and market performance generally have been significant since March 2009. The
Trustees have taken into account the improvements in the asset values and financial
conditions over the year, and based the Recovery Plan on a reduced deficit amount at 31
March 2010 of £552 million.
The Trustees. So it looks like APS have reduced the deficit from 1030 Million to 552 Million due to the improvement in the economic situation up till mar 10. But NAPS haven't reduced the deficit at all in that period. So all current NAPS members are having to pay the full wack to address the full deficit where as APS members have been cushioned.

[TinyTim2]

What about the erosion of capital rather than the value of stocks etc held , it's well and good saying we've reduced the black hole if the whole pot is still shrinking .............. But then again as I sais earlier Im no accountant .........

[IRISHMAN]

Still no answer on the question of CPI or RPI???? Just been reading some of the experts opinion on the subject, one says if it is written into the pension rules ie RPI or CPI already then the trustee,s would have to change the rules but they may decide if it is not in the members interests they may not make the change. However the new Government may force the trustees to change the rules!!!!!! I guess this would protect the amount they would have to have in their safety net for company,s that go under????. Any word from the Trustees on this yet????? or from some of the intelects on the website???????

[yotty]

No-one seems too bothered about the inequality between APS and NAPS then ..might be different when people work out how much extra they will have to pay ..

[The Weasel]

[QUOTE=yotty;So all current NAPS members are having to pay the full wack to address the full deficit where as APS members have been cushioned.[/QUOTE]

What about all the 'cushioning' APS members did for BA throughout the rather extended contributions holiday?