Globaleye.com

The BA pension deficit could be far bigger than previously estimated – leaving the boss, Willie Walsh some tricky negotiations with the unions over retirement benefits. BA, of course, is just one of many companies that are having difficulty plugging the black hole and the entire company pension debacle is slowly unravelling in the UK (all over the world actually!)

If you thought your retirement was safe with any corporate pension scheme then best you read on since it is quickly becoming a billion £,€,$ problem. For the full story, and some points you may need to consider, please

BA’s actuaries Watson Wyatt will say that the black hole has expanded to £1.8bn when they report the findings of a three yearly review of the scheme on autumn – up from £928m. Walsh has already said that the airline will drop £500m into the fund to narrow the deficit. But in return, he wants the rank and file of BA to move the retirement age from 60 to 65. Under the new arrangement Pilots would retire at 60 not 55.

Lower interest rates and longer life expectancy have done much to inflate the size of the deficit. A spokesman for the BA pension fund declined to comment and wait for the results of the review in September.

BA is just one of many companies facing huge difficulties meeting their pension commitments. It makes sense to have your pension reviewed and indeed we can offer a full appraisal and forecast as to what you are likely to receive. Many actuarial companies will levy a fee for this service but those fees are dramatically reduced if you request the service through Globaleye. Moreover, you may wish to take control of your pension fund, change the retirement date and explore the massive tax savings available. Contact us today for more info.

Thanks to the Daily Mail for snippets of this article