How do I get more?
With BA pensions, you have a good basic package but you can improve it by saving more.
There are choices within APS that will:
- meet your needs now and in the future
- give you the flexibility to adapt to your changing lifestyle
- put you in control of your financial future and planning.
You have choices, so decide for yourself what your priorities are. Some people are happy with the basic package. But you could consider supplementing your retirement income:
- people are living longer – you may well be living on your pension income for a long time
- the quality of life you enjoy now and want to enjoy in the future
- the tax efficiency of retirement savings
- other investments and financial vehicles that you may have taken out.
You can also choose to build your pension at a slower rate
If you are currently under State Pension Age you can choose to build your pension at a slower rate of 1/54 (Flying Staff) or 1/58 (Ground Staff) for future service. With this rate you pay the same Scheme contributions that you would pay for the standard build-up rate 1/52 (Flying Staff) or 1/56 (Ground Staff) but BA then covers the cost of the additional employer’s National Insurance Contributions (NICs), currently 3.1% of Band Earnings, introduced following the launch of the government’s new State Pension arrangements from April 2016.