Posted by David Day on 09 October 2000 at 19:19:05:

There is a long(ish) article in the current edition of 'Private Eye', Oct 6th. #1012, which suggests that BA is busy 'manipulating' it's pension fund in a very similar way to IBM(UK) Ltd. It involves fund surpluses, introduction of new schemes and pension holidays for BA. They have already had a'day in court' and now have a full High Court hearing scheduled for Jan. 15th. next year.

See: Clippings from "Private Eye"

Posted by Jim Gilchrist on 09 October 2000 at 23:49:48:

In Reply to: ..and British Airways too. posted by David Day on 09 October 2000 at 19:19:05:

Is it more than a disconnected coincidence that the IBM Pension Trust has the CEO of BA Pensions Investment Management Ltd as a director?

Also from the Times on 30 September ....

Captain Mike Post is one of a group of disaffected members of the older plan, the Airways Pension Scheme (APS), who object to its merger with the New Airways Pension Scheme (NAPS). BA says the merger will generate more surplus to improve benefits and fund a contribution holiday from the NAPS.
The rebel members say their scheme's substantial surplus should stand apart from the NAPS to improve their benefits. Captain Post and his fellow campaigners are taking their battle all the way to the High Court. The hearing is on January 15.
).

Posted by Derek Wright on 26 October 2000 at 10:38:10:

In Reply to: ..and British Airways too. posted by David Day on 09 October 2000 at 19:19:05:

Todays London Times (26 Oct 00) on page 26 has an articled titled "BA faces pensions merger climbdown" - The actuary of the fund has informed the Funds trustees that "changing financial circumstances means that they should no longer go ahead with the merger in the current form, according to sources close to the scheme"


Posted by Alan Murphy on 01 November 2000 at 23:58:41:

The current edition of "Private Eye" (3rd November, umber 1014) contains an item about the British Airways pension fund. Here is a short quote:

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Then on 20 October the trustees met, reinforced by Mike Post. Unanimously they decided to do a smart about-turn. Previously they had all been in favour of the merger. Now they were all against it. "The trustees," said a statement, "will now be notifying BA that they do not consider it appropriate to proceed with the merger."
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