22 June 2010
According to a BBC report, British Airways (BA) has reached an
agreement with the pension scheme trustees on a plan to reduce its
£3.7bn deficit
BA said the recovery plan would avoid the closure of its two
final-salary pension schemes, the Airways Pension Scheme which was
closed to new members in 1984 and is made up mainly of pensioners
and the larger New Airways Pension Scheme also closed to new
members in 2003 with around 30,000 members.
The full recovery plan will now be submitted to the Pensions
Regulator by the end of June.
