Message from the NAPS Trustee

Message from the NAPS Trustee

News, Thursday, September 28th, 2017

Dear NAPS member,

Thank you for your enquiry regarding British Airways’ (BA) ongoing pension consultation.

We, the NAPS Trustee, would like to be clear that the Trustee had no role in the informal consultation held between BA and the trade unions. The NAPS Trustee was made aware of the detail of BA’s proposals for closure of NAPS at approximately the same time as members. The Trustee also has had no input to the future pension proposals, including the transition arrangements, which BA is currently consulting on with employees and their representatives. If you have feedback on BA’s proposals, the consultation process is the opportunity for you to provide this to BA directly at:

https://www.bapensionsconsultation.com

BA’s consultation help-desk number is

020 8562 0022

The Trustee cannot take a decision on the proposals until it has received all relevant information during and after the consultation period. Therefore, although we do not have an active role in the consultation, we will be monitoring the consultation carefully. The Trustee will consider BA’s final proposals once the consultation has concluded and determine whether it needs to take any action as a result.

Although we do not yet know what form BA’s final proposals will take, if NAPS is closed to future build up, we can confirm your pension built up to the date of any closure would be protected by law.

We understand that at this stage you may have questions about your NAPS pension and how this could be impacted by BA’s proposals for closure of NAPS. We have produced a Q and A document available on the member website to address some of the common questions we are receiving from members. You can find the Q&A document on the member website using the following link:

https://www.mybapension.com/resources/news/consultation_qa.pdf?20092017

Members who wish to participate in the consultation process should do so via BA using the details at the beginning of this letter.

Members should consider waiting for the outcome of the consultation before making any decisions about their NAPS pension. If you are in any doubt as to the action you should take, you should consider obtaining independent financial advice.

Finally, we would like to clarify that BA Pensions (British Airways Pension Services Limited and British Airways Pension Investment Management Limited) and the Trustee are neither owned by nor part of the BA group.

Issued by the NAPS Trustee