7 SEPTEMBER 2015

YOUR WORDS


Readers are invited to add their comments to any story. Click on the article to see and add.

BTN DISTRIBUTION

BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.

Index

Email this Page
Bookmark

The Business Travel News
PO Box 758
Edgware HA8 4QF
United Kingdom
+44 (0)20 8952 8383
info@btnews.co.uk
© 2019 Business Travel News Ltd.

Article from BTNews 7 SEPTEMBER 2015

BA retirees could suffer

British Airways is preparing for a High Court clash with one of its pension fund’s trustees over increases in payments to the airline’s retired staff.  In the past former employees could rely on BA share dividends for additional income, but this has not happened for nearly 10 years, although selling at the current premium price is also possible.

The court case stems from the government’s decision in 2010 to link pension increases for retired public sector workers and private sector schemes such as BA to the Consumer Price Index rather than the Retail Price Index (RPI).

BA is fighting the trustees over their 2013 decision to award a 0.2% discretionary increase to pensioners in the scheme – amounting to a pension increase of half the difference between RPI and CPI.  It has not been paid as yet.

In a pre-trial ruling, Mr Justice Warren said the matter was of “great importance” to the parties and for BA “possibly hundreds of millions of pounds turn on the outcome of the case.”  BA has spent much effort in attempting to fix the deficits in its defined benefit pension schemes said to be £630m.  The scheme closed to new members in 1984 and it is not known how many staff and retirees are eligible.  www.ba.com

Index/Home page
 

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum


No one has commented yet, why don't you start the ball rolling?


Add your comment

First Name
Surname
Email Address
Company (Not obligatory)
Country/City
Comment
- You must be a registered subscriber using the email address entered to submit a comment, or you will be sent a confirmation email before your comment will appear.
- Your comment will be checked before appearing, which may take several working hours.
www.btnews.co.uk