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.