Pilots disappointed as BA seeks to pull plug on final salary pension scheme
British Airways pilots say they’re bitterly disappointed by the airline’s proposal to close the final salary pension scheme (New Airways Pension Scheme) to future accrual.
British Airways says it wants to close NAPS to future accrual next year and move everyone to an improved defined contribution pension scheme. NAPS closed to new joiners nearly 15 years ago and now covers around 50% of pilots. It has been a key part of BA pilots’ terms and conditions since the pension scheme was established in the 1980s.
Head of Industrial Relations at BALPA John Moore said:
“It is bitterly disappointing that BA is now seeking to close NAPS to future accrual and thereby remove a highly valued employment benefit. At the same time, we cannot ignore the significant funding problems identified by BA and will continue working with the airline to mitigate the impact of any changes and improve the DC pension scheme.”