What do I get
At retirement, your usual income will stop, but many of your expenditures won't. You cannot depend solely on the basic pension from the government. Our pension schemes aim to help you meet some of the day-to-day costs of living and still have some left for the finer things in life. You also have security for your family and in case you fall ill before retirement.
The pension you get will depend on how long you have been in the Scheme and your earnings or what you pay in. So, whatever your plans for retirement, start early. Do not leave saving for your future to the future.
BA sponsors two separate Schemes - the Airways Pension Scheme (APS) and the New Airways Pension Scheme (NAPS) - which are administered by BA Pension Services Ltd (BAPSL). NAPS is a Final Salary Scheme but includes a Money Purchase Section BAMPS. There are two options within NAPS final salary – Plan 65 and Plan 60 for service after 1 April 2007.
Many of the options under NAPS Final Salary and BAMPS – like tax relief on your contributions and flexibility to pay more into and on top of the Scheme - are essentially similar. So, in this section, we describe NAPS Final Salary and BAMPS together and point out any differences.