In Focus - My British Airways pension

Putting
in [focus]
your future into focus
NAPS Update
November 2012
Inside this issue
Focus on your pension
Money going in and out of the Scheme
The Scheme’s investments
Investment strategy
Scheme news
Scheme Rule changes
Who manages NAPS?
Useful information
2
3
4
5
6
10
11
12

Focus on your pension
It’s important that we all take time every now and then to focus
on our pensions, and this latest issue of In Focus has been
prepared to help you to do just that.
In this issue of In Focus, we tell you about some developments
to the Scheme (see page 10), and changes to the Trustees who
look after the Scheme on your behalf (see page 11).
The money going in and out of the Scheme
The Scheme’s Annual Report and Accounts for the financial
year to 31 March 2012 has also been published and shows that
as at 31 March 2012, the Scheme had assets of £9.6bn. Further
details from the Annual Report and Accounts showing the
money going in and out of the Scheme during the last financial
year and some of the investments held by NAPS are shown on
pages 3 to 5.
Helping us to help you
This is the second edition of the new format of In Focus, and
we’d like to thank all of you who sent in positive feedback about
the last issue. Throughout this issue, we have tried to make
the content even easier to understand, and we hope that you
enjoy taking time out to read it and to focus on your pension.
If you have any comments or suggestions on how we can make
further improvements to In Focus, please let us know by writing
to BA Pensions using the details on the back page.
Jargon buster
Annual Report and Accounts I
The Annual Report and
Accounts look at the financial
activities of the Scheme during the
financial year and are different to a
funding Valuation which looks at the
longer term position of whether the
Scheme has enough money to pay
all of the benefits when they fall due.
The Scheme’s auditors are KPMG LLP.
Keep up to date by email
To make sure that you don’t
miss out on the latest Scheme
news, if you register for email
communications, we’ll let you know
whenever any general updates including
future editions of In Focus and the
Trustees’ quarterly newsletters are
available on the website. The Trustees
wish to encourage online communication
for general pension information where
possible due to the obvious cost and
environmental efficiencies.
Quarterly newsletters
To give you more regular information on what we’re doing in
response to your feedback, we have introduced a quarterly
online newsletter which is available on the Scheme’s website.
These newsletters are another way that we plan to keep you
up to date with issues affecting the Scheme, in addition to the
copies of In Focus that we publish at least annually, and the
other updates we provide from time to time. You can sign up
for an email alert to be sent to you each time a new edition
of the newsletter is published on the website – see the box
to the right. If you are not an internet user we can provide the
newsletter by post on request.
Issued by the New Airways Pension Scheme (NAPS) Trustees
You can register your email address at
www.mybapension.com by following
the link on the home page.
Once you have registered, you will
no longer be sent a printed version of
In Focus and other general Scheme
updates unless you either write
to Whitelocke House or click the
‘STOP’ link on the website and ask for
printed communications to be issued.
Communications containing personal
information will continue to be sent by
post to your home address.
2

Money going in
and out of the Scheme
The following table summarises how the value of the Scheme’s assets changed from 31 March 2011 to
31 March 2012, including:
• income (member and employer contributions, and investment income);
• expenditure (outgoings such as payment of pensioner and dependant benefits); and
• the change in the market value of the Scheme’s investments during the period.
Value at 31 March 2011
£8,808.8m
Income
Outgoings
Change in market value
of investments
Value at 31 March 2012
£731.1m
(£282.5m)
£357.7m
£9,615.1m
The Scheme’s
assets rose in
value from £8.8bn
at the start of the
year to £9.6bn at
31 March 2012
The Scheme’s auditors, KPMG, gave their opinion that the Annual Report and Accounts provide a true and
fair view of the financial transactions of, and the investments held by, the Scheme.
Headline results
The Scheme’s assets rose in value from £8.8bn at the start of the year to £9.6bn at 31 March 2012. The key
factors contributing to this increase were the continued recovery in the market value of the investments held
by the Scheme over the year and the contributions paid by members and BA during the year. BA paid an
additional £154.6m to the Scheme on top of its normal Scheme contributions and deficit contributions.
While the increase in the Scheme’s assets is good news, taking account of likely investment returns in
coming years it is expected that the value of the Scheme’s liabilities will also have increased. The exact
impact this will have on the size of the Scheme’s deficit will not be known until we have concluded the
three-yearly Valuation work over the coming months.
?
Want
to know more?
The full Annual Report and Accounts for the year ending 31 March 2012 is available on
our website, www.mybapension.com under the ‘Scheme documents’ link.
3

The Scheme’s investments
British Airways Pension Investment Management Limited (BAPIML)
manages the day to day investment decisions for NAPS on behalf
of the Trustees. The Scheme’s assets are invested in line with the
Trustees’ Statement of Investment Principles, see ‘Want to know
more?’ on page 5.
Investment update
Over the last year, returns on the NAPS investments, which include
stocks, shares and bonds, were positive. The table below shows
that actual investment returns have been better than the target
benchmark over 1, 5 and 10 years, however they fell slightly behind
over 3 years.
How NAPS investments performed
Financial years
to 31 March
2012
2012
1 year
2010/2012
3 years
2008/2012
5 years
NAPS returns
(% a year)
Benchmark returns
(% a year)
6.72 6.46
15.48 15.83
4.30 3.95
Benchmark I The
performance of each of the
major asset categories is
measured against a market
index (for example, the
performance of UK Equities
is measured against the
FTSE All Share). The indices
are selected to ensure that
the investment performance
objectives are linked to the
liabilities of NAPS. The aim
is to meet this level of return
and investment performance
is judged against this target.
Actuary I The Scheme’s
Actuary is James Wintle from
Towers Watson. James is a
qualified professional who
uses his knowledge and
expertise to help the Trustees
estimate the amount needed
to pay future benefits from
the Scheme in full when they
become due.
2003/2012
10 years
6.53 6.37
Valuation update
A detailed review of the funding level is carried out every three
years in a formal Valuation, and we have been working hard on
the current three-yearly Valuation which will assess the funding
level as at 31 March 2012. Carrying out a Valuation is complex
and does take time. We expect to be able to share the results of
this with you in 2013, once the process has been finalised. For
more information on the work we are doing on the Valuation,
please refer to the latest quarterly newsletter on the website.
Jargon buster
Valuation I This is a
detailed review of the
Scheme’s funding. The
Actuary carries out a full
Valuation once every three
years. As part of the Valuation
process, detailed Scheme
funding discussions take
place with BA to determine,
amongst other things, the
level of contributions to be
paid by BA into the Scheme.
The Trustees, together with the Scheme’s Actuary, continue to monitor the Scheme’s funding level in
between formal Valuations and this was discussed in the December 2011 In Focus, available on our website
under the ‘News’ link.
4

Investment strategy
The Trustees aim to choose
investments to match the needs of
the current membership, by providing
the right mix of growth and security.
We do this by investing in a mixture of
investments, shown to the right:
How NAPS is invested
Investment category % held as at 31 March 2012
UK Equities
3.7%
4.4%
Overseas Equities
Bonds & Cash
Property
8.5% 15.6%
Private Equity
Alternative Investments
Total 100%
30.4%
37.4%
? Did you know?
Want to know more?
That NAPS, in conjunction with APS, owns over
£1bn of UK commercial property investments?
Typical holdings include retail warehouse parks,
offices, shops, industrial estates and distribution
sheds let to a variety of tenants, often large
household names. Recent purchases include an
office investment in Aberdeen, a town centre
retail development opportunity in Horsham, and
a West End office investment in Fitzrovia, London
W1. The Property Team at BAPIML have focused
over the years on an active asset management
strategy to enhance long term property returns
for the Schemes. Often this involves renegotiating
terms of lettings with tenants and refurbishing
and redeveloping to enhance the quality of the
investments under management. In the summer
the team successfully completed a 420,000 sq ft
industrial distribution development in Chorley,
Lancashire and will also shortly be commencing
a West End retail-led redevelopment which has
been pre-let to a leading retailer. Successful
results such as this contributed earlier this year
to British Airways Pensions’ Property Fund
winning an award for the Best 10 year Risk
Adjusted Return from IPD (Investment Property
Databank). IPD is a company which measures and
benchmarks commercial property investment
returns from the majority of Institutional Property
Fund Managers and Investors active in the UK.
More information on the Scheme’s
investments is included in the full
Annual Report and Accounts,
which is available via the ‘Scheme
documents’ link on our website,
www.mybapension.com. The Annual
Report and Accounts includes a
further breakdown of the Scheme’s
investments and a detailed report on
how they performed over the year to
31 March 2012.
The Annual Report and Accounts
also includes details of some recent
changes that have been made to
allow the Trustees to make quick
decisions, to benefit from positive
investment performances. The
Annual Report and Accounts also
details the introduction of a new
Equity option strategy to protect the
Scheme from a fall in Equity values.
If you are interested in the detail
behind the investment strategy, you
can also view the latest Statement of
Investment Principles on our website
under the ‘Scheme documents’
link. Over the years ahead the
Trustees will continually look for
ways of capturing good investment
performance, while reducing the
Scheme’s investment risk.
5

Scheme news
active
Pension tax changes
As we reported last year, in April 2011
the Government changed the amount
of pension savings that you can make
and still benefit from tax relief. We
expect these changes to affect only
a small number of members. We are
including a reminder here to help you
see if you could be affected, and to tell
you about any developments since the
last In Focus.
Pension tax in-depth
Changes to the lifetime allowance – are you affected?
The lifetime allowance (LTA) is the maximum amount
of pension benefits you can build up across all of your
UK-registered pension arrangements without a tax charge. It
is currently £1.5m, with some protection offered to employees
who have already made pension saving decisions based on the
previous LTA limit and who have registered for the protection.
Remember if you registered for ‘Fixed Protection’ (which
allowed members to fix their LTA at £1.8m before 5 April
2012), any future build up of benefits since 5 April 2012 either
within the BA schemes or elsewhere, is likely to invalidate
this protection – see auto-enrolment on page 8. Further
information, including details about ‘Fixed Protection’ is
available on the HM Revenue & Customs (HMRC) website at
www.hmrc.gov.uk/pensionschemes/lifetime-allowance.htm
Have you exceeded the Annual Allowance?
In the last issue of In Focus, we told you of some changes to the
Annual Allowance (AA) (further information is available on our
website www.mybapension.com click on ‘Simple English Guide’).
It is now your responsibility to tell HMRC if you exceed the AA,
so it’s important that you take time to understand what you
need to do if you are affected.
We have already issued statements for the 2011/12 period
and will continue to issue formal statements automatically by
October each year to those individuals who exceed the AA
in the Scheme’s Pension Input Period and may be liable for a
tax charge. Members can also request an AA statement at any
time, if required.
Are you affected by pension tax?
If you think you might be affected and you need help,
you should ask an independent financial adviser for more
information and also contact Whitelocke House (see the
back page).
Will the Scheme pay any AA charges?
The Trustees have agreed that members
can request that the Trustees pay any AA
charge due on their behalf, in return for a
reduction in Scheme benefits as long as
the increase in the member’s benefit value
within NAPS during the Scheme’s Pension
Input Period exceeds £50,000 and where
the member’s total AA tax charge for that
period is £2,000 or more. This is known as
‘Scheme Pays’.
Members can elect to have any AA charge
deducted from any existing Additional
Voluntary Contribution (AVC) balance at
face value at the time the charge is due or
have a reduction made to their pension
benefits when they retire or leave the
Scheme. If the latter facility is chosen, the
amount of charge paid by the Scheme is
adjusted in line with the returns achieved by
the Scheme’s Mixed Portfolio Fund (MPF)
between the date the charge is paid and the
date that the member’s benefits are reduced.
The adjusted charge is then converted to
an equivalent pension deduction using the
appropriate Scheme pension conversion
factors. MPF prices are declared on a
monthly basis and can go up or down. You
can view a history of MPF returns and unit
prices on our website.
HMRC have recently clarified that
members have until December 2013 to
enter into an agreement with the Trustees
if they wish to use the ‘Scheme Pays’ facility
for AA charges incurred for the 2011/12
period. In future years the timescale will
be shorter. Also, members must enter into
the agreement with the Trustees before
payment of benefits can commence.
If you think you may be affected, please
contact us using the details on the back page.
Jargon buster
Pension Input Period I
This is the time used to
calculate your benefits from
NAPS for tax purposes
(including calculating the AA),
and is the period from
1 April to 31 March each year.
6

On watch!
Most NAPS pensions can be termed ‘final salary’ benefits as they are based on service and pay. AVC
benefits are however contribution based and have therefore usually come under the term ‘money purchase’
benefits. Following a recent legal case, the Pensions Act 2011 is set to amend the definition of money
purchase benefits in a way which could see some AVC benefits classed as final salary benefits. An impact
of such a change could potentially be the treatment of AVCs in the event of a scheme wind up whilst in a
deficit position.
Money purchase benefits are given a higher priority than final salary benefits when distributing available
scheme funds and therefore it is important that all AVC benefits continue to legally be classed as money
purchase benefits. Currently the National Association of Pensions Funds (NAPF) is in discussion with
the Department for Work and Pensions (DWP) regarding the impact of amending this definition and how
this might be introduced in respect of existing arrangements. A DWP consultation which will consider
implementation, including whether there is to be any retrospective effect, is expected at the beginning of
next year.
We are providing input to the NAPF regarding the NAPS arrangements and will continue to stay close to
the industry discussions over the coming months with the aim of clarifying any impact to NAPS as soon as
possible.
You can normally
choose to exchange
some of your pension
for a lump sum
?
Reminder
Tax-free lump sum
Just a reminder of how the tax-free lump sum works. You
can normally choose to exchange some of your pension for
a lump sum of up to 25% of the value of your benefits at the
point at which they are drawn – up to a maximum of 25% of
the standard LTA (see page 6) – or 25% of your remaining
LTA if you are already drawing other pension benefits.
We work out the value of your benefits as:
Annual pension times 20 plus the face value of any AVC
balance.
Members with large AVC accounts should bear this in mind
as they may not necessarily be able to take all of their AVCs
as a tax-free lump sum if limits are exceeded. For example,
if your pension was £10,000 a year and you had AVCs of
£75,000, the maximum lump sum you could take free of tax
would be 25% of (£10,000 x 20 + £75,000) = £68,750.
You should also be aware of this if you are considering
taking Flexible Retirement (see page 10). The lump sums
available to you at your Flexible Retirement date and your
final retirement date will be based on the amount of pension
being drawn at that particular date plus any AVC balance.
AVCs which exceed the maximum lump sum limit must
be used to buy extra pension. Benefits which exceed LTA
limits can be taken as pension or cash but would be subject
to additional tax. Exchanging pension for a tax-free lump
sum has no effect on any survivor’s pension or dependent
children’s allowances.
7

Auto-enrolment
You may have heard about the Government’s ‘autoenrolment’
legislation – which aims to encourage employers
to help their staff to save for their retirement with a work
based pension plan. NAPS already qualifies under the
legislation so if you are a member of NAPS you need take
no action.
BA’s date for enrolling eligible employees who are not
already in a pension scheme is January 2013. Eligible
employees who have opted out of NAPS will be
automatically enrolled into the British Airways Retirement
Plan (BARP) in January 2013 and BA will write to them with
details in advance. If you have opted out of NAPS and do
not wish to remain in BARP (for example you have Fixed
Protection and do not wish to invalidate this protection by
building up further benefits) you should complete the opt
out notice on the BARP website within one month of being
automatically enrolled. Advanced notice of your wish to opt
out of BARP cannot be accepted.
active
deferred
The closure of BAMPS to
250 existing and former
members
BAMPS – the Money Purchase
Section of NAPS – has been
closed from 1 October 2012 as it
did not meet the Government’s
new auto-enrolment rules for
pension arrangements.
The existing 250 members and
former members were written
to individually with full details
of their options upon closure.
These members can still contact
us regarding their options even if
they have not yet returned their
BAMPS option form. If you did
not receive a letter, this change
will not have affected you.
active
SmartAVCs
Since the introduction of SmartAVCs – BA’s salary sacrifice arrangement – in
October 2011, the number of people paying AVCs has gone up. Extra flexibility has been
introduced this October and you can now change the amount you save under Smart
AVCs from the 1st of any future month (previously amounts could only be changed
every 1 October) by completing the ‘AVC Options form’ available on our website.
Remember SmartAVCs allow both you and BA to pay less NI contributions. The NI
saving BA makes is shared with you. You currently get an extra 10% of the amount you
save paid into your AVC account. So for every £10 paid in as SmartAVCs, BA will add an
extra £1. You must be a member of SmartPension to make SmartAVCs. You can join or
leave SmartAVCs once a year during September to be effective from 1 October. Normal
AVCs can still be paid on top of, or instead of, SmartAVCs and can continue to be
changed from the 1st of any month by submitting an ‘AVC Options form’. You can also
change your AVC investment decisions from the 1st of any month.
Jargon buster
Consumer Prices Index (CPI) and the
Retail Prices Index (RPI) I Although both
the CPI and RPI measure the change in the
price of goods and services over time, the CPI
is generally (although not always) lower than
the RPI. The key reason for the difference
is the different way in which the price data
used to produce each index is combined
to form the overall average, known as ‘the
formula effect’. Another difference is that the
RPI includes the costs of housing (mortgage
interest costs and council tax for example)
while the CPI does not.
Additional Voluntary Contributions
(AVCs) I You can make extra tax-free
payments on top of your standard BA pension
to provide additional benefits for you and
your dependants when you retire or die. There
are two ways to save AVCs, SmartAVCs and
normal AVCs.
8

pensioner
deferred
Pension increases in 2012
Under NAPS Scheme Rules, increases to most
deferred pensions and pensions in payment are paid in
accordance with the Government’s Pensions Increase
(Review) Orders up to a ceiling of 5% a year. The 2012
Order was 5.2% and in accordance with the Scheme
Rules, pensions were increased by 5% on 9 April 2012.
We understand that annual increases to pensions are
a vital part of retirement income and that many of our
members and pensioners remain concerned following
the Government’s changes to the Orders in 2011, which
involved a move to basing increases on the Consumer
Prices Index (CPI) rather than the Retail Prices Index
(RPI). Since we last wrote to you on this matter, we have
closely monitored the outcome of a Judicial Review
and subsequent appeal which have established that
the adoption of CPI as the basis of the Orders by the
Government was lawful. Over the last two years we
have sought our own extensive advice on the options
available to us under the Rules and we continue to work
alongside our APS colleagues to consider whether it
is possible to develop principles by which RPI type
increases may be restored in the future. As reported
last time, for NAPS, restoration of RPI type increases
is a longer term objective due to the funding position
of NAPS and the requirement for any Rule changes to
be agreed with BA. In the meantime we recognise that
increases will be based on CPI.
Public consultation on RPI
Linked to the pensions increase topic, a
recent development, which is relevant to
the Trustees’ discussions, is the public
consultation commenced by the Office for
National Statistics on 8 October this year.
The consultation which runs until
30 November 2012 considers various
options regarding how RPI is constructed.
Outcomes from the consultation are likely
to impact how RPI sits alongside CPI with
views indicating that the difference will
narrow. Further information can be found
regarding this consultation at
www.ons.gov.uk. The results of the
consultation are expected in January
2013. We will keep you informed of
any impact of this consultation on the
Scheme.
Please note
Pensioners whose benefits remain
covered by Arrowsmith, British
Caledonian, Chartridge, Dan Air or
Davies and Newman Rules do not receive
standard NAPS increases and the issues
discussed in this section may be of limited
relevance to you.
active
Contribution increases
The latest round of NAPS contribution changes were
made on 1 October 2012, following any changes made by
members in September this year. For interest, the number
of active members paying for the different pension build
up rates that are available in Plan 65 and Plan 60 are
shown below.
Plan 65 Plan 60
Members
1/60 1,963 3,617
1/67 1,071 1,110
1/75 10,282 4,396
Current rates are shown on our website
www.mybapension.com by clicking on
‘What do I get?’ on the top menu and then
‘I pay’ on the left hand menu. The next
scheduled date that you can change your
NAPS pension build up options (and Plan 65
members can switch to Plan 60) is expected
to be October 2013 to coincide with
SmartAVC joiners/leavers for that year.
A lower pension build up rate, currently
1/130, is available to active members whose
unabated pensionable pay is £60,000 or
more to assist them with their financial
planning around the AA – see page 6.
Further information is available on our
website click on the ‘What do I get?’
button at the top of the screen, then ‘Tax
Allowances’ on the left hand menu for
detailed information. The 1/130 build up
rate is set by the Actuary and is reviewed at
every Scheme Valuation.
9

Scheme Rule changes
active
Flexible retirement
A new option was introduced from 1 October 2012
subject to you reducing your working hours. If you
are an active member over age 55, you can request
to draw all or part of your pension while you continue
to work for BA, and you can also continue to build up
future pension benefits.
If you are over age 55 and would like to take this
option, you must have the Company’s consent
to reduce your working hours (even if you are
already currently working part-time) subject to a
minimum level (which may vary in different areas).
Full conditions for Flexible Retirement are available
on the BA intranet under reward@ba.com. Further
information on your benefit options under Flexible
Retirement, which include the ability to transfer the
portion of your pension being taken under Flexible
Retirement to another pension provider instead
of drawing it, is available on our website. Flexible
Retirement quotations can be requested from
Whitelocke House. Slight variations will apply if you
have ‘crystallised’ your pension.
Jargon buster
Crystallised Member I
These are active members
who have ceased their pension
contributions at or after their
normal retirement age but leave
their pension in the Scheme and
continue to work for BA. They do
not build up any more pension
for the extra time they work, but
at retirement their pension is
increased to allow for the fact that
it is being paid later.
Flexible Retirement
Member I A member who,
having obtained the Company’s
consent to do so, elects to start
payment of all or part of his
benefits at or after age 55 whilst
remaining in employment with
the Company.
active
pensioner
Member Trustee rule updates
The Scheme Rules have been updated following the
introduction of Flexible Retirement, so that a Flexible
Retirement Member cannot be nominated as a
Pensioner Trustee if they are already a Member Trustee.
Also, they cannot be nominated to be a Pensioner
Trustee and Member Trustee at the same time. If this
happens the member will be asked to choose which
position they wish to be nominated for. A Flexible
Retirement Member will be eligible to cast a vote in
both Pensioner Trustee and Member Trustee elections.
deferred
pensioner
An action for pensioners and deferred pensioners
Keeping track of your pension
It is important that you keep the pensions team at Whitelocke House updated with any
change in contact details or personal circumstances. If you do not, there could be a delay in
payment of your benefits or dependants benefits and you will miss out on regular updates
about your pension.
If you are a pensioner or deferred pensioner please write to the pensions team at
Whitelocke House immediately if you change address, marry, remarry, divorce, become
bereaved or have children.
active
Note for active members
Active members do not need to inform the pensions team, as any changes made via
Peopleonline are fed to Whitelocke House automatically by BA.
10

Who manages NAPS?
NAPS is managed by 12 Trustees. Six of the Trustees are appointed by BA, five of whom hold senior positions
within the airline (see our website for further details), the other being the independent chairman. Four are
elected by the active members of NAPS and two are elected by the pensioner members of NAPS.
We reported in the last In Focus that elections were in progress for the newly merged Engineering, TMG and
Ground Services constituencies, the Administration and Rest of Management constituency and a second
pensioner Trustee. Since then Ian Rycraft, Dave Southcott and Graham Fowler have been successfully elected
to fill these vacancies. Adrian Smith also joined after a ballot of the Cabin Crew constituency. All new Trustees
have received comprehensive training and continued professional development and most have obtained the
Award in Pension Trusteeship. Your current NAPS Trustees are:
Pilots
Ian Bretherton
Elected
Cabin Crew
Cabin Crew
Adrian Smith
Elected
Pensioners
Geoff Le Boutillier
Elected
Engineering,
TMGs & Ground
Services
Ian Rycraft
Elected
Administration
and Rest of
Management
Dave Southcott
Elected
Pensioners
Graham Fowler
Elected
Chairman
Joanna Boswell
BA appointed
Alan Buchanan
BA appointed
Charlie Maunder
BA appointed
Philip Osmond
BA appointed
Peter Simpson
BA appointed
Paul Spencer CBE
BA appointed
Pensioner Trustees receive a payment in recognition of the work they do for the Scheme. The amount has
been agreed following a review of similar payments in the industry and rather than use Scheme assets to
make these payments, the monies are paid by the Company. The Scheme Rules have been broadened to
provide that if at any time the Trustees would prefer for the monies to be paid directly from the Scheme,
they have the flexibility to do so.
Our members
Below we show you how many members were in NAPS at 31 March 2012:
Total
3,175
23,350
18,787
22,515
67,827
Active members
Members who are still employed by BA
Pensioners in payment
Members who have retired and are
receiving their pension
Deferred pensioners
Members who have left the Scheme and
are no longer paying in, but are not yet
receiving their pension
Dependant pensioners
The dependants of deceased members
and pensioners, who are receiving a
pension.
11

Useful information
Past editions of In Focus and the other Scheme documents listed below are available on the website,
www.mybapension.com or by contacting the pensions team:
The Statement of Funding Principles
The Statement of Investment Principles
The Annual Report and Accounts (including the Scheme’s Schedule of Contributions)
The 2009 full Valuation report (which includes the Recovery Plan in section 3)
The Member’s Handbook
The Trust Deed and Rules
12
Contacts at BA
The Trustees have been asked to provide the following
updates for your information.
• BA Clubs have a website www.ba-touchdown.com
containing useful information and links to organisations
working on behalf of former BA staff including the
BA Welfare and Benevolent Fund (which also accepts
applications from current BA staff), the BA touchdown
team (formerly retirement support), the Retired Staff
Liaison Council and BA Clubs.
• The BA Welfare and Benevolent Fund is a charity
set up by BA to help current and former employees,
including those of predecessor companies, who are
experiencing severe financial hardship. To discuss
making an application in confidence please call
020 8513 2528.
• The Retired Staff Liaison Council is a group that BA
formally consults with and has been in existence for at
least 20 years to represent the views of pensioners and
former employees. Further details are available on the
BA intranet or the www.ba-touchdown.com website.
Notice of Wish
Please can we remind all active members to update their
Notice of Wish form. Blank forms are available on the ‘Forms’
page on www.mybapension.com. These forms are relevant
to the distribution of lump sum death benefits and you
should consider completing a new form every time your
circumstances change e.g. marriage, divorce, birth of a
child. Active members, pensioners and deferred pensioners
who do not have a legal spouse or civil partner but who
have someone who is financially dependent on them
(for example, a live-in partner) can complete a Surviving
Dependant Registration form. We use these forms to help
us decide who should receive benefits in the event of your
death.
Financial advice
Remember your pension benefits are
very valuable. You should consider
taking professional independent advice
before making any decisions regarding
your pension benefits and especially if
at any point you are considering leaving
the Scheme. For a list of advisers go to
www.unbiased.co.uk
Contact us
We are always interested to hear any
feedback on our communications.
Any comments should be sent to:
BA Pensions
Whitelocke House
2-4 Lampton Road
Hounslow
Middlesex
TW3 1HU
For other enquiries you can contact our
pensions team on:
0208 538 2100
enquiries@bapensions.co.uk
Produced by Hymans Robertson LLP 2773/BA/NAP1112