MPs back 100,000 British Airways staff in major pension row

[brumble49]

More than 30 MPs have backed a group of 100,000 British Airways staff in a major row over the airline refusing to increase their pension payouts in line with the cost of living.

Late last night in a meeting in the House of Commons, MPs threw their weight behind BA staff, who are embroiled in a long-standing battle to get their employer to stick to generous pension promises it made in the years before the airline was privatized in 1987.

In 1984 staff were given the option of taking a cash lump sum worth up to a years' salary to move to a new, less generous pension scheme, or stay put in their current one.

But in 2010 George Osborne announced that public sector workers should have generous inflation protections replaced with a lower measure.

The controversy is over whether savers who chose to remain in the old BA pension, which was once a public sector scheme, should retain the generous terms of their original arrangements.

Now BA is suing the pension trustees, who make decisions on behalf of members of its pension scheme, over recent boosts it tried to award to pensioners. The case will be heard in the High Court next February.

Shailesh Vara, a Conservative MP, said: “I fully appreciate the frustration—indeed, anger—of people who were expecting something on their retirement but who will no longer receive it.”

“I am sure that British Airways is keeping a watchful eye on the Chamber and has noted the presence of not only those who have had the opportunity to speak, but the many others who support them.”

Kate Green, a Labour MP, said: “It is rare for so many MPs to stay so late at night for an adjournment debate on such a specialist subject. I very much hope that our presence here will be one of those steps that we can take collectively to put that pressure on British Airways.”

http://www.telegraph.co.uk/finance/perso...n-row.html

[bill.advanced]

More than 30 MPs have backed a group of 100,000 British Airways staff in a major row over the airline refusing to increase their pension payouts in line with the cost of living.

Late last night in a meeting in the House of Commons, MPs threw their weight behind BA staff, who are embroiled in a long-standing battle to get their employer to stick to generous pension promises it made in the years before the airline was privatized in 1987.

In 1984 staff were given the option of taking a cash lump sum worth up to a years' salary to move to a new, less generous pension scheme, or stay put in their current one.

But in 2010 George Osborne announced that public sector workers should have generous inflation protections replaced with a lower measure.

The controversy is over whether savers who chose to remain in the old BA pension, which was once a public sector scheme, should retain the generous terms of their original arrangements.

Now BA is suing the pension trustees, who make decisions on behalf of members of its pension scheme, over recent boosts it tried to award to pensioners. The case will be heard in the High Court next February.

Shailesh Vara, a Conservative MP, said: “I fully appreciate the frustration—indeed, anger—of people who were expecting something on their retirement but who will no longer receive it.”

“I am sure that British Airways is keeping a watchful eye on the Chamber and has noted the presence of not only those who have had the opportunity to speak, but the many others who support them.”

Kate Green, a Labour MP, said: “It is rare for so many MPs to stay so late at night for an adjournment debate on such a specialist subject. I very much hope that our presence here will be one of those steps that we can take collectively to put that pressure on British Airways.”

http://www.telegraph.co.uk/finance/perso...n-row.html

Note the use of the word generous. Yes in comparison to what is on offer now it is better, but not generous. If I agreed to pay someone a sum of money to do some building work, would it be deemed as generous if I paid the builder what I was contractually obliged to, answer no, we agreed a programme of work and payment there is no measure of generosity inherent within this agreement.
In 2010 we were all robbed by the last government, what I had worked for and paid for for 30 years plus was taken away from me. My pension increases are now based on a lower measure of inflation.
Now before I get complaints I am fully aware that I and pensioners in recent years as a whole have received better increases than serving members, but not generous ones. In normal times the opposite was normal, but due to zero and 1% pay rises suffered by serving members our rises have been better. But as inflation is 0% this September based on the lower figure we get no increase in pension next April. They could be GENEROUS and give us a 1% rise will they? I very much doubt it.

[Andre999]

Shailesh Vara, a Conservative MP, said: “I fully appreciate the frustration—indeed, anger—of people who were expecting something on their retirement but who will no longer receive it.”

Says it all i think. Have a word with your Boss will you!

[bill.advanced]

Shailesh Vara, a Conservative MP, said: “I fully appreciate the frustration—indeed, anger—of people who were expecting something on their retirement but who will no longer receive it.”

Says it all i think. Have a word with your Boss will you!

Nothing more frustrating Andre than someone in her position making such a crass remark. However from experience you will be amazed at the level of ignorance some in her position suffer from.
I don't get a generous pension, I don't even get the one I paid for, but I read everywhere that I do get one.
Best of luck to the ba staff, I hope they do better than us.