BRITISH AIRWAYS' TREATMENT OF ITS PENSIONERS

Summary

That this House notes that in a recent ballot of 37,080 members, pensioners and deferred pensioners of British Airways APS pension scheme, 78.5 per cent. voted on a turnout of 65.3 per cent. to reject the trustees' advice to merge with a new, NAPS, pensions scheme which would considerably reduce their pension entitlements; notes that pension fund merger is being actively promoted by BA to save it ú90 million initially, ú281 million at the next valuation and a share of the surplus thereafter; notes that the trustees, a majority of whom represent BA interests, are proposing to disregard the ballot subject to High Court Approval; notes that a BA spokesperson has expressed on television the opinion that the views of the members are irrelevant; and condemns the behaviour of British Airways management as unacceptable for a leading UK plc.

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Timeline

1. 24 January 2000

   Early Day Motion

   That this House notes that in a recent ballot of 37,080 members, pensioners and deferred pensioners of British Airways APS pension scheme, 78.5 per cent. voted on a turnout of 65.3 per cent. to reject the trustees' advice to merge with a new, NAPS, pensions scheme which would considerably reduce their pension entitlements; notes that pension fund merger is being actively promoted by BA to save it ú90 million initially, ú281 million at the next valuation and a share of the surplus thereafter; notes that the trustees, a majority of whom represent BA interests, are proposing to disregard the ballot subject to High Court Approval; notes that a BA spokesperson has expressed on television the opinion that the views of the members are irrelevant; and condemns the behaviour of British Airways management as unacceptable for a leading UK plc.

   Source: Early Day Motion

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Sponsors

• Sir Vince Cable · Liberal Democrat · Primary sponsor

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