Chairman Dayne Markham
NEWSBRIEF No. 72
Contents
1. AGM 2008 Report, 12th October 2008
2. Staff Travel Campaign Update
3. Variable Pension Update
4. BA Pensions Secretary
5. BA Welfare and Benevolent Trust Fund
6. Membership Cards
Chairmans Report 2008/2007.
Ladies & Gentlemen Welcome to the 2008 AGM . Please synchronise your calendars to 2008. Those members who attended here on the mistaken date in the AGM notice please claim a fuel payment from the Treasurer.
Previous Chair Sandra Sellers cannot be present today by pre arrangement. I think at this point we must record our appreciation for her work for ABAP over the past years in the usual manner. ABAP similarly greatly appreciates the work of our Membership over the last year in response to the various campaigns.
As Chairman of ABAP for 2008/2009 I will serve ABAP to the very best of my ability and using all the talents of the Committee. I will serve as Vice Chairman for the year following. This year there are two new committee members to be voted in:
Gil Carswell NAPS
Mike McDonald APS
In addition David Waddington MBA has been taken on as Association Secretary to sharpen up our organisation into the future.
We have also welcomed Geoff LeBoutellier NAPS Pensioner Trustee to our last committee meeting.
Keith Bretherton APS has had to stand down and we all wish him well.
Turning now to the achievements of 2007/2008. We have worked on behalf of all pensioners to oversee the management of the Scheme. Again this year Sandra & I met Roger Maynard Chairman of Trustees & John Birch Pensions Secretary to discuss key issues. We have also met the Liaison Council to explore how best to progress items of mutual concern.
Work on the VPO has included a presentation by 3 Actuaries to the Trustees.
Ongoing from that has been a proposal that ABAP could accept, which was discussed by the Trustee board on 1st October. I have just received a letter from BA pensions that they are unable to progress this proposal at present
partly due to the present financial climate.
This is a great disappointment as ABAP has provided professional answers to
all requirements raised by the Trustees. We will re-examine our position and report.
Members have been successful in lobbying the Dept of Work & Pensions in seeing off the suggestion that employers should be allowed to reduce benefits earned that are already in payment.
Michael O’Brien until very recently Pensions Minister had continued to explore how new legislation could help employers reduce the cost of providing pensions.
It has been confirmed that no reduction in benefits already accrued will be allowed.
When Sandra met officials at the DWP they mentioned the thousands of postcards we had sent.
The Membership must also take some credit for the lobbying for those pensioners who had lost their pensions before the formation of the Pension Protection Fund. You will recall Dr Ros Altmann spoke here at the last AGM and asked for our support. Subsequently the Government did agree to provide finance for all those pensioners & widows.
The strength of the Association can be measured by these successes.
2008/2009 is already becoming an historic year for the wrong reasons.
I appeal to you to support your association with hard cash. Why will it be particularly important ? We are now living in uncharted financial times & ABAP must be prepared. I have mentioned that ABAP is extending the areas we pay for now with an Association Secretary to keep us on our toes into the future, in addition to Newsbrief production, postage, maintenance of our database & the ABAP website.
In March 2009 there will be a triennial valuation of APS & NAPS. No doubt deficits have risen . There are now 10000 centenarians in Britain when there were only 1500 in 1953.
Thank you, that concludes my report for 2007/2008.
Geoff Nolan then congratulated the Committee for their hard work on the
pensioners behalf.
STOP PRESS. Capt. Mike Post gave the broad financial position of the
schemes in the light of the current fast moving financial climate .
APS stands at £6.25bn with 12.75% in shares. Deficit on 8 October some
£300m.
NAPS is showing a deficit of £1.75bn.
The Triennial Valuation due in March 2009 will give a more accurate
picture.
The Chairman’s report for 2007/2008 was approved.
Hon.Treasurers Report.
Honorary Treasurer Jack Shill reported the Association was in a better
financial state after last year. The use of printed subscription reminders
was popular & effective. The Hon.Treasurer requested that FOC Members
return their forms in order to be renewed on our database
The 2007/2008 Association Accounts as circulated were approved.
Subscription Levels for the ABAP Year July2009/June2010.
The Chairman stated that the current levels of subscription were adequate.
This was supported from the floor by several members.
The subscription levels for 2009/2010 were approved.
Election of the ABAP Committee for 2008/2009.
Following a question from the floor the Chairman gave a brief background to
each member standing for election.
Philip Howells requested that each new candidate should state whether they
had any immediate family still serving in BA.
In response, Gil Carswell standing for election, stated that his wife is still a
manager in BA.
The election of the ABAP committee was approved unopposed, with the
proviso that in future notices of the AGM will include candidates profiles.
The Occupational Pensioners Alliance Report.
The Chairman outlined the nature of the OPA, extolling the value of their
Website. He then read an extract from the OPA Chairman’s report to
demonstrate that our interests are mutual.
The Annual Subscription to the Occupational Pensioners Alliance.
The Hon.Treasurer had earlier mentioned this subscription and the amount
when discussing the year’s accounts.
The annual subscription to OPA was approved.
AOB
Mike McDonald (ABAP Committee) proposed a Vote of Thanks to
Capt. Mike Post. Capt. Cliff Pocock, Stuart Scott, Graham Tomlin (APS) and
Geoff LeBoutellier (NAPS), all Pensioner Trustees on the Trustee Board for
their vital work especially in investment matters.
It was raised by Mike McDonald(ABAP Committee) that a forthcoming BBC
programme on British Airways could well be the usual BBC horror format and
ABAP members should write a letter in support of BA.
As the programme has yet to be screened no decision was made but there was
some sympathy felt for current BA employees.
The AGM business Closed at 14.54
2. Staff Travel Campaign Update
During a Staff Travel Forum held following the AGM Philip Howells detailed
the forthcoming campaign details which are included with this Newbrief for
all Members immediate attention.
It was apparent that there is still a large measure of misunderstanding and
ignorance about the ST2009 proposals for which BA is wholly responsible.
ABAP is the only BA pensioner body having the independent organisation &
Membership to marshal a campaign to bring some fairness to existing BA
pensioners where Staff Travel is second only to Pensions in priority.
3. Variable Pension Update
As has been touched on in the AGM report, apart from the current situation the VPO solution has been unexpectedly halted by the Trustees. ABAP has been told that some of the professional answers we have given as part of the solution do not go far enough. It is essential that they should. In order for this to happen we must establish from the Trustees & their advisers exactly where our answers and their questions do not line up.
ABAP is only too aware that Time is passing. The Trustees are facing the new financial climate & it maybe daunting. Even if the VPO is not a top priority just now it is also daunting for many long time VPO pensioners. Their pensions have been remorselessly eroded with politically-under-called RPI year on year, and state pensions cannot cushion, as they are already offsetting their extended VPO over-payback.
4. BA Pensions Secretary
ABAP has recently been told by Mr Birch that after 30years with BA pensions he is moving on. He was initially with APS & then with NAPS as well.
He has been loyal both to the Scheme and to the Pensioners, being always conspicuous for that.
We wish him good health & good fortune.
5. BA Welfare and Benevolent Trust Fund
Will Members please take note of the new contacts for the Fund.
Remember it is there to help when things get tough.
Concorde Centre, Crane Lodge Road, Heston Middx. TW5 9PQ
0208 -513-2528 ask for Mary Peters.
Email: retirementsupport@BA.com
6. Membership Cards
The ABAP system is that when you have paid your sub you will be sent a
new yellow membership card. Please allow around 6 weeks for your
number to come up. If it still does not arrive see your cheque stubs to
ensure you actually have sent the sub.
The Committee of ABAP, 12th October 2008