has caved in to the will of powerful unions and made another key concession in
talks regarding its £2.1bn pension deficit.
The UK’s largest international scheduled carrier will now lower the proposed
normal retirement age for all staff, including pilots and cabin crew from 65 to
60, after agreeing to increase its annual contributions from £250m to £272m.
Despite winning these key points, workers will now have to increase their
pensions contributions in return. For the first five years, workers intending
to retire at 60 will have to raise their contributions to 10% of their
pensionable pay instead of 5.25%, while air crew will have to put in 11.25% up
from 6.25%. After this initial period the rate will be stabilised at 10% for all
Brendan Gold, T&
G’s national secretary for civil aviation conceded that BA had made a
signifiacnt compromise, but warned that clear differences still existed, in
particular for cabin crew,’
The Telegraph reported.
The union was pushing for a retirement age of 55 for its members.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars