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BA unable to close scheme

23 December 2009

According to industry experts, British Airways (BA) is unable to close its final salary pension scheme because of an arcane post war agreement that means the airline cannot cut pay or pensions.

Former government pensions adviser Dr Ros Altmann believes this little known pact, called the 1948 Redeployment Agreement, goes a long way towards explaining why BA hasn't already shut its pension scheme to existing members.

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