British Airways to close pension scheme

Unions bitterly criticise the plan and demand talks
British Airways aims to shut down its defined benefit pension scheme, a plan bitterly criticised by unions who demanded urgent talks to discuss the changes.
The move is designed to address “the significant and growing funding deficit” in the New Airways Pension Scheme (NAPS), currently running at over GBP£3 billion (€3.3 billion), the airline said.
Member benefits that have already been earned will be preserved, it added.
The unions GMB and Unite representing the 17,000 members of the NAPS scheme expressed “dismay and bitter disappointment” at the announcement, as pension members now face uncertainty over their benefits when they retire.


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