Pension NewsBrief No.61
.
21st September 2005.
Contents 1. Variable Pensions: A Request.
2. Pension Scheme Contribution Rate.
3. Member Nominated Trustees.
4. Philip Howells. ABAP Webmaster.
5. ABAP Business Cards.
6. ABAP BA Newspaper Advertisements.
7. Treasurers Corner.
-------------------------------------------
1. Variable Pensions: A Request.
In order to raise the profile of this vexatious issue the Committee has decided to
request Members who are now disadvantaged by this type of Pension to complain
individually to highlight the numbers affected.
They should write to Mr Roger Maynard, Chairman of Trustees at BA Pensions, to
process an Internal Dispute on the grounds that the Assumptions underlying the
Variable Option have been shown to be flawed.
It should be remembered that the Trustees have the power to grant ex gratia
pensions in compensation.
Members should request from BA Pensions tables "Scheme Members Actuarial
Period Life Expectancy" for the year they took out the Variable Option.
The comparison with their present age will then enable the scale of the imbalances
to be more readily appreciated by the Trustees.
2. Pension Scheme Contribution Rate.
There has been a heavy response to the recent Newsflash. Thousands of postcards
have been arriving at the Department of Work & Pensions. Thank you Everyone.
As a first reaction, the date for finalisation of the New Legislation has been put back
from September 23rd to October 31st 2005 while the Department of Work &
Pensions consider acceptable wording .
Using the Newsflash as briefing, please will you lobby David Blunkett.
Secretary to the Dept. for Work & Pensions.
3. Member Nominated Trustees.
Sandra has advised that the "Employer Opt Out" must now be replaced by 2007.
Thus the review previously offered in 2007 will now be superseded by whatever the
Trustee Boards decide to implement. As ever ABAP is looking for improved
Pensioner Trustee representation for Pensioners .
4. Philip Howells. ABAP Webmaster.
It is most appropriate at this time, when the new ABAP website is now fully
Operational, to record the gratitude of the Association to Philip for his untiring
work on the Internet, completed without complaint and more than a little
generosity.
Will Members please explore the new website and bear in mind the possibility of
linking their own website & other websites to ABAP.
5. ABAP Business Cards.
After a long time coming to fruition in response to Members suggestions, notably
from Danny Nickson, ABAP is now distributing 2 cards per Member.
It is suggested they are passed on, not only to BA Pensioners, but to any BA
employee to raise the awareness of the existence of ABAP as they are all potential
pensioners and are eligible to join.
Please make a special effort to place your cards where they will evoke interest.
6. ABAP Advertisements in BA News & Touchdown.
It is with great pleasure the Committee is able to announce that the two BA
Newspapers have responded positively and accepted the personal request from
Sandra that ABAP can place advertisements in both papers to make BA people
aware of the existence of the Association. The ABAP campaign goes from strength
to strength.
7. Treasurers Corner.
The Treasurer thanks all who have sent in their subscriptions since the last
Newsbrief. Please make your cheque payable to just "ABAP."
By the response, Members clearly appreciate that without financial backing there
are severe restrictions on the effectiveness of the Association.
We appeal to our many fresh Newsbrief Readers to make an annual ABAP
Subscription which goes towards communications and both legal &
actuarial advice as we are, of course, an entirely voluntary organisation.
Send to:
Jack Shill
ABAP
FortyOne (41)
Linkway
CROWTHORNE
Berkshire RG45 6ES
SEE YOU AT THE AGM 13th OCTOBER .
The Committee of ABAP 21st September 2005.