Who controls the pension funds?
The responsibility for controlling the pension fund monies lies with the Trustees of the pension Schemes.
To help them invest all of the monies, the Trustees rely on the expertise of independent advisers. Additionally, the Trustees have set up a separate company, British Airways Pension Investment Management Ltd (BAPIML) based in central London whose role is to manage the funds on a daily basis. BAPIML is not a subsidiary of BA. The Trustees set targets for the types of investments to be held based on the expected income from them but it is BAPIML's role to decide daily what actual investments to buy or sell to meet those targets.