When you leave British Airways (BA) or if you opt out of the pension Scheme, you will usually be entitled to a deferred pension due to be paid from your Normal Retirement Age.
When you are approaching your NRA we will write to you with full details of your pension benefits and your options relating to your pension about four months beforehand.
It is important that you keep the Scheme up to date with your latest contact details so payment of your pension is not delayed. Contact us for further details.
Transferring your pension
At any time before you start to draw your pension, you can ask us to transfer the value of your deferred pension to another UK-registered pension arrangement or a Qualifying Recognised Overseas Pension Scheme registered with HM Revenue and Customs. This value of your benefits is called a 'cash equivalent transfer value'. A cash equivalent transfer value will be provided in your retirement pack shortly before your NRA. Alternatively, you can ask for a statement of your cash equivalent transfer value at any time (but usually not more than once in any 12-month period).
If you are a deferred member, you normally have a statutory (legal) right to transfer your Scheme benefits to another pension arrangement. This applies if you have not yet drawn your Scheme benefits and you have made an application to transfer them at least one year before your Scheme normal retirement age.
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