British Airways Pensioners Fightback

Published by Graham Tomlin for Credit Union Solutions Ltd in Central Government and also in Education, Health, Housing, Local Government

George Osborne and Steve Webb have set off a fire storm among the 27,000 pensioners in the Airways Pensioners Scheme.

The Airways Pension Scheme Trust deed states that annual reviews will be in line with the Government's Annual Review Orders which since 1973 have been RPI.

The Government has chosen to change this traditional measure of inflation to CPI which is mostly much less than RPI. The result is that APS pensioners will lose 20% of their pension while it is in payment and since 60% of APS pensioners get a pension of less than £10,000 a year they are quite rightly furious.

A pensioners meeting has been requested by over 2,000 members and meetings are planned to bend the ear of politicians.

These pensioners were promised RPI increases and have paid over and above the other pension payments to get full indexation. Clearly there has been massive mis selling of the APS pension by British Airways and its pension fund.

But its an ill wind since the saving by moving to CPI for annual pension increases amounts to a transfer of benefit from BA pensioners to BA shareholders of a whopping £770 Million. Little wonder then that the fighting fund created by the campaigning pensioners group Association of British Airways Pensioners is building very nicely and has funded the following You Tube Video.

http://www.youtube.com/watch?v=WuqkO9KvaPo