Newsbrief No 76
30th June 2009
Contents
1. British Airways & BA Pensioners
2. Review of the Pension Protection Fund
3. ABAP Website
4. VPO. Thanks for response
5. Applications for the Committee Election 2009/2010.
- Member Standing down at AGM
6. Staff Travel Watch Election of members at AGM
- Members wishing to stand.
7. Paying subscriptions direct into ABAP account.
 - Subs form 2010

1. BA & BA Pensioners ( Dayne Markham)
BA is grabbing the headlines again almost every day. There is little that BA pensioners can do to help the airline except be positive. Yes, ABAP has had disagreements with parts of the airline & BA pensions in the past. Yes, we remain apprehensive when Iberia is mentioned.

But we do not wish the whole enterprise to fail with the large adverse knock on effect in this Country for many who are & are not directly employed by the airline. It is not for us to comment on the idea of “working for free to save BA”; but the Board sharing the pain is Fair for Staff Solidarity.

However BA Pensioners loyalty to BA is sorely tried by the Staff Travel example of the BA Board so soon after the Staff Travel for existing Pensioners & their Widows was savagely reduced on April 1st this year in the name of Fairness.

Even now, apparently all BA board members past & present will still enjoy free first class travel for themselves & family for life, irrespective of how long they have served with BA. Clearly the board has just reconfirmed it is Fair to keep their lifetime arrangements. ABAP has always supported Fairness and now call on BA to restore likewise the staff travel privileges BA pensioners enjoyed when they retired. Thus to regain the full loyalty of all involved with BA past & present. It is widely recalled that Staff Travel was profitable for many years when the rest of the airline was not. Surely our Pensioners can still help now and into the future.

2. Pension Protection Fund. ( Sandra Sellers, Dayne Markham, Capt. Peter Duffey)
In response to Members requests we include here more up to date information:

The PPF was set up to provide pensions for pensioners of failed pension schemes. It is funded by a levy on all Schemes in the pensions industry. Currently it has assets of £3bn. The levy is stabilised in periods of 3 years. For 2009 it is expected to be in the region of £700m with a maximum permitted of £863m.

The law requires that BA provides the funds in order that all pension promises it has made can be paid out to members so they can receive each pension instalment as it falls due. If BA were to become insolvent and unable to make good the deficits in the scheme, the PPF would take over the schemes & pay out compensation. However if a big scheme such as APS or NAPS was to call on the PPF there could well be a cutback - as allowed under the PPF legislation.

The PPF compensation currently on offer is:
1. For those who retired early, who are not yet at normal scheme retirement age, it is 90% of their pension up a sliding scale to a cap of c.£30000 pa
2. For those not yet retired it is 90% of their pension up to the ceiling payable when they reach Scheme retirement age. Early retirement is no longer possible.
3. For those retired who are over the scheme normal retirement age it is 100% of their pension.
4. All future pension increases are LOST, except for those on any pension earned for employment after 1997 when inflation up to 2.5% will be paid .
5. Spouses pension for those members who die, and are survived by a spouse will only be 50% of the compensation.

NB “Members” in this instance refers to those still working.

ABAP has now started a PPF Watch & would like additional volunteers. Please contact David Waddington, david.waddington@zen.co.uk


3. The ABAP Website.www.abaponline.org ( David Waddington)
Development of the site continues. It is important for members on line to identify the official ABAP site as there are reports of look-a-like websites under the same or similar acronyms. ABAP is working to resolve this situation. Suggestions please to David Waddington as above.

4. Variable Pension Option. ( Dayne Markham)
The case to the Ombudsman continues with our professional advisers. ABAP thanks all those who have responded so enthusiastically to the request for VPO info. There are too many to thank individually but the response has been terrific. If there are anymore VPO pensioners to check in, please contact ABAP via your membership card contact info at you earliest convenience.
Or e-mail David Waddington, again as above.

ABAP thanks all BA pensions staff for their help in looking up members detailed VPO figures.

5. AGM Committee Elections for Year 2009/2010. (Dayne Markham)
ABAP committee wishes to hear from any member wishing to stand for election to the committee 2009/2010. At present one committee member is standing down but this may increase. All candidates must be on email. Please email David Waddington a 5 line manifesto & career summary by 31st July 2009.

6. AGM Staff Travel Watch Elections for year 2009/2010 ( Dayne Markham)
ABAP committee wishes to regularise the present temporary ST Watch. This is largely a media & internet operation between ST Watch members. When an opportunity for ST change or adjustment is observed, the Watch will take what action it can initially, & advise the ABAP Liaison - presently Alan Murgatroyd. Again, email is essential.
Members interested in being on Watch please contact David Waddington by 31 July 2009 with 5 line career précis & pensioner interests.

7. Treasurer’s Corner (Jack Shill)
Jack Shill our reconstituted Treasurer advises that 2009/2010 subs are now payable. A Subscription Payment Form is enclosed with this Newsbrief No76. He requests that even if you are not due to pay any sub, in order to renew your membership. i.e. if your membership is FOC = Free Of Charge, please will you send in your form marking it “FOC” on the cheque line so that you are sent a new 2009/2010 Membership card. Jack also reveals on the form that it is now possible to pay your sub to ABAP via your Bank, as below:
Pay : ABAP
Sort Code: 20-11-74
Acc. No. : 70180769
Quote ref : SUB. Your S/No Your Initial, & Your Surname,.

Many Thanks to All Members for their Vital Support.

The Committee of ABAP 30th June 2009