In June you voted to elect Kate Gay, and re-elect Jack Weale, as member-nominated Trustee Directors (MNDs) from the pensioner membership. 8 Castle Street. We provide useful resources and technical information about the Scheme, such as the Member Handbooks and leaflets, The Trust Deed and Rules of the Scheme, as well as NAPS valuation reports, Annual Report & Financial Statements, and documents on the Responsible Investment page which provide information about how the Trustee and. our website: . The informant will need your pension reference number when calling the team. £21. You can delay receiving your pension after your Normal Retirement Age, up to a maximum of age 75. This takes you to a page featuring “My Plans. Insurance · United Kingdom · <25 Employees. The additional pension can be paid to a dependant other than your spouse or partner and your Dependent Children or you can use this option to increase the standard spouse or partner cover or Dependent children's cover. The Scheme is a Registered Pension Scheme approved under Chapter 2 of the Finance Act 2004. You can do this by logging in to Mybapension online. com is for staff. L69 2YL. Increases in NAPS are limited to a maximum of 5% per year. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). Your Pre 2007 basic pension. Your BA pension is only part of the income you will receive on retirement. The Glossary contains definitions of all the technical terms used on this website. British Airways Pensions Services. mybapension. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). The lump sum does not have to be paid to your spouse, partner or surviving dependant. The government raised the minimum retirement age to age 55 from 6 April 2010. *Option 55 is now closed to new joiners but existing Option 55 members currently have opportunities to switch off Option 55 within Plan 60 from 1 April or 1 October. The GMP is paid as part of your NAPS pension once you reach your GMP 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. mybapension. If you retire early, any pension paid before its relevant Normal Retirement Age will be reduced because you and BA will have paid fewer contributions than expected to fund your final benefits and the pension will be paid for a longer period of time. Register for My Account. If you have any concerns, you should contact the Pension Credit helpline on 0800 731 0469. My Account is key to. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). If you leave your pension with BA it is called a deferred pension. NAPS factor changes from 1 April 2020. MND Neil Blackburn’s term came to an end on 30 September 2021. The Government gives. To book a place, contact Vanessa Rowley or Kasia Ambrose on 020 3691 3215 or email: membership@ba. So if you retire on 11 August, your first payment will be on 30 September and will include pension for the period 11 August to 30 September. Paying the NAPS transitional option into the new scheme. mybapension. You may become a parent, get married or start a committed relationship. It is likely that you have questions about your British Airways pension benefits. If you have a general pension question, you may find the answer to your query on the ‘ FAQs ’ page. mybapension. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). 8 Castle Street. If you have not yet registered and have lost your registration letter please contact BA pensions on 020 8538 2100 to request a duplicate to be sent to you in the post. Your deferred pension is worked out at date of leaving as a percentage of your salary, based on the years, months and days that you've been a member of the Scheme (your Pensionable Service ), adjusted for any changes in your BA occupations prior to 1 April 2007 (such as a move from Flying Staff to Ground Staff), plus. Then divide this by the current LTA and multiply by 100 to work out the percentage of your LTA you have. 1. The value to be tested against the LTA is worked out by multiplying the gross (i. The individual statements will show the new rate of. mybapension. This allowable tax-free lump sum limit will. If you are making your normal Scheme contributions via BA's SmartPension arrangement the maximum AVC amount you can save is 50% of your Gross taxable pay after reductions. There are two types of trustee directors. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). com. com. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). Pensioner hub. The two conditions are applied in order and, if neither condition is met, any statutory right you may have to transfer is. So if your BA pension at retirement is £6,000 a year and you have an AVC balance of £5,000, the value of your pension is worked out as follows: 20 x £6,000 a year + £5,000 = £125,000. Scheme documents. If you would like us to publish an obituary or eulogy for a former colleague, please send it to us. These may have different NRA's; however, they must be treated. 07m and will still apply in most cases if you draw a pension before 6 April 2023 . This means that the value of your investment can go down as well as up depending on the performance of the stock market in future years. I am a spouse/partner or dependent of a member of NAPS. mybapension. mybapension. If you leave your pension in APS it is called a deferred pension. You get automatic tax relief at your highest tax rate. Telephone +44 (0) 203 691 3215. The extra service after Normal Retirement Age for which you pay contributions, plus any increases to Pensionable Pay you receive after Normal Retirement Age, will be included in your. From 6 April 2016 members under State Pension Age, who have not selected the 1/54 (Flying Staff) or 1/58 (Ground Staff) pension build-up rate, pay an additional pension contribution of 3. Write to us at: British Airways Pensions. Manage your beneficiaries. Or, if you take a lump sum, the LTA value would be the cash value of your lump sum plus 20 times your remaining annual pension: lump sum of £20,000 plus 20 x £4,200 p. Hover over or click on the individual bars to see the interest rate for each specific month: For example, if you had an EBF balance of £1,000 on 1 April and the total monthly rate for each of the following 12 months was 0. This plan is administered by Aviva Life & Pensions. mybapension. This is worked out as 20 times your annual rate of pension, e. The Corporate Trustee. The tapered AA. May 24, 2018. PO Box 2074. Claer Barrett,. Tom Ridge signed a law that expanded pensions for those employees by 25% — and even more for state lawmakers. If you need any information on how your plan is performing, you can either: Log into your BAPP account via the BA intranet, Aviva’s My Workplace app or. You get: a 'Post 2007' service pension worked out as 1/60 of your pay at retirement for every year of Pensionable Service in Plan 60 between 1 April 2007 and 30 September 2010, plus 1/75 of your pay for every. If you choose to have your lump sum paid into your account in the British Airways Pension Plan (BAPP) this will not affect the NAPS benefits you have built up to 31 March 2018. Mixed Portfolio fund (MPF) The MPF is like a unit trust fund, which means your investment is used to buy units of (mainly UK and overseas) stocks and shares. A lump sum may be paid if no Adult Survivor’s pension is payable. Visit the Scheme documents page to view the annual report and financial statements for the year ending 31 March 2021. mybapension. The matter before us tonight therefore affects a substantial number of people, some on very modest pensions—the average pension in APS is about £14,000 per annum and in NAPS it is about £12,000 per annum—and has what Captain Post has described as a “complex history”, going back to 1948, when APS was established. The investment objective for the MPF is reviewed. The first payment is made at the end of the month after the month you retire. Alternatively, the informant can fill in our ' Death notification. If I die. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension. Your deferred pension is worked out at date of leaving as a percentage of your salary, based on the years, months and days that you've been a member of the Scheme (your Pensionable Service ). You can also view your personal benefit statements if you usually receive these. 1. Covid-19: Important update about our services - 17 March 2020. The password you should use to register on the website is the one provided in your original registration letter or any reminder letter we have sent to you. 1/75. Total Reward Statement Portal. =. If you have a deferred pension in NAPS, this is due to be paid from your Normal Retirement Age (NRA) ( Plan 60 or Plan 65 ). Address changes can also be accepted in writing with a signature (our address is on the Contact us page). In addition, members under State Pension Age who have not selected the 1/83 pension build up rate pay an additional 3. British Airways (BA) has announced a change to the ENDs appointed to the New Airways Pension Scheme (NAPS) Trustee. mybapension. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). From then on your pension will be paid at the end of every month into your chosen bank or building society account. This form is now available as an online form, which you can submit directly to the Pensions team. As the settlement has been approved, we expect to make payment of the arrears payable backdated to 6 April 2019 with your pension payment in December 2019. Scheme updates. com is 2 decades 6 months old. Send a message via ' Contact us '. FAQs. My children get. It is very important that someone tells us straightaway when you die by calling the BA Pensions team on 020 8538 2100. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). From State Pension Age you will also receive a pension from the Government if you have paid sufficient National Insurance Contributions over your working lifetime. You can retire and draw a reduced pension before your Normal Retirement Age - from age 50. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). The Pension Schemes Act 2021 introduces two new conditions that must be met before a transfer can be paid from a defined benefit pension scheme, such as APS or NAPS, to another UK or overseas pension arrangement. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). If you have not yet registered and have lost your registration letter please contact BA pensions on 020 8538 2100 to request a duplicate to be sent to you in the post. = £104,000. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). Pre-retirement seminars are open to current and former employees who are interested in retirement planning. 18th October 2023 saw the official ONS release of UK inflation figures for September. Search APS: mybapension online. 7 months full-time = 7 months. The Airways Pension Scheme (APS) is an occupational final salary scheme. 8 Castle Street. The Government raised the minimum retirement to age 55 from 6. com is a site for staff who joined British Airways before 1 April 2003 and are members of the Airways Pension Scheme (APS) or the New Airways Pension Scheme (NAPS). The LTA is currently c£1. There are two options within NAPS final salary – Plan 65 and Plan 60 for service after 1 April 2007. Your deferred pension does not need to be assessed against the AA unless you are a pilot who chose the three-year promotional. mybapension. To book a place, contact Vanessa Rowley or Kasia Ambrose on 020 3691 3215 or email: membership@ba. 25% (Ground Staff) or 8. This can be found at the top of any personal communications we have sent to you. The investment objective for the MPF is reviewed. You cannot give or 'assign' your benefits. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). Looking for old news? mybapension. We provide a pay slip with your first pension payment. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). It is very important that someone tells us straightaway when you die by calling the BA Pensions team on 020 8538 2100. mybapension. The Trustee will continue to provide AA statements for members whose pension input amount exceeds the standard £60,000 AA. We try to answer many of them here and you will also find lots of useful information within other areas of this site. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). Then click on the blue “Show selected tax forms” button to download your PDF tax. 07m and will still apply in most cases if you draw a pension before 6 April 2023 . Your Scheme 's actuary will work out the increases, and we will add them instead of normal Scheme increases. They took up their positions on 28 June 2021 and 1 October 2021 respectively, and will serve for between five and five-and-a-half years. Ontdek hoe eenvoudig het is in onze tutorial! Check uw pensioendatum. The PSTR number is 00302323RH. 1% of the Band Earnings. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). The standard Annual Allowance is currently £60,000 a year. These increases apply to any elements of your pension that qualify for yearly increases under the Scheme Rules. mybapension. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). mybapension. NAPS Consolidated Trust Deed and Rules – June 2019. A Late retirement increase will be added to your Pre 2007 service pension and you will have five choices in respect of your pension, which are. mybapension. If your NAPS membership ended after 31 March 2007 you will be entitled to a pension for pre 2007 service and a pension for post 2007 service. The standard rate at which your pension builds up is 1/75 (for both Flying Staff and Ground Staff) for which you pay contributions of 5. You should give this option careful consideration as opting out means you will be giving up valuable pension scheme benefits. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension. 56%, your AVC balance at the end of the 21/22 year would be calculated as your £1,000 balance increased by 0. Before you can take up this option you will need to pass a medical examination. mybapension. Additional Voluntary Contributions (AVCs) You can save AVCs on top of your basic Scheme pension and they are a tax-efficient way of saving for extra pension or lump sum benefits when you retire. 1 per cent of its expected liabilities, even though British Airways paid £1. In other words, if you choose to draw your pension on or after 1 October 2023, you will need to exchange less of your pension when taking a tax-free lump sum. New retirement and transfer value factors are in full. 5% from 10 April 2023. Most APS pension payments are paid in arrears and are made by the last working day of each month. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). Liverpool. 25% (Ground Staff) or 8. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways'. The resources below can provide help and support during these challenging times. Former BA Staff Absent Friends. 24 March 2023. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). Members of APS. 33 billion). mybapension. Glossary. a. The standard build-up rate in NAPS Plan 60 was 1/75. I have two BA pensions. Pre-retirement Courses. Pension Fund (BBPF) (DC Section) Welcome to the website for the DC Section. I left before 1 April 2007. mybapension. mybapension. The monthly contribution you make includes a 1. 5%. mybapension. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). The Pension Schemes Act 2021 introduces two new conditions that must be met before a transfer can be paid from a defined benefit pension scheme, such as APS or NAPS, to another UK or overseas pension arrangement. If your pension in payment has a cash equivalent value* of £10,000 or less (currently pensions up to approximately £500 a year), you can exchange it for a one-off small lump sum at any time after GMP Age (age 65 - men; age 60 - women) or from age 50 if your pension does not include a Guaranteed Minimum Pension (GMP) entitlement. yearly pension at Normal Retirement Age. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). mybapension. Liverpool. mybapension. The contains definitions of all the technical terms used on this website. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS). Pension increases. The informant will need your pension reference number when calling the team. give you the flexibility to adapt to your changing lifestyle. If you have a tax query, please call the tax office on 0300 200 3300 or write to: PAYE. 5. The PSTR number is 00302323RH. This is provided by the Mercer Master Trust and is called the MMT – BAE Systems Retirement Savings Plan and is administered by Scottish Widows. Your deferred pension will be reduced if the pension will be paid earlier than your Normal Retirement Age. The Trust Deed and Rules provide that, of the eight. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). The Scheme is responsible for paying any increases due on your GMP until you reach your GMP age. marital status and relationship data, including the full name, date of birth, contact details and relationship to your proposed beneficiaries. Telephone: 020 8538 2100 (Monday to Friday 9am – 1pm) British Airways Pensions. 1% of Band Earnings . If you have registered for online communications you can submit your Notice of Wish directly to the Pensions team by logging into Mybapension online and filling in the online Notice of Wish. My deferred pension. Absent Friends Supplied by British Airway PensionsThe government gives. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). You can also view your personal benefit statements if you usually receive these. mybapension. The value of your Additional Voluntary Contributions (AVCs) account will depend on: the length of time your AVCs have been invested. 1. At retirement, your AVC account can be taken as extra lump sum or used to buy pension benefits. We offer three AVC investment funds: The Equity Biased Fund (EBF) The Short-dated Gilts Fund (SGF) The Mixed Portfolio Fund (MPF) You can divide your AVCs between any of these funds. We can't guarantee to publish every one but we’ll try to include it in a future publication, where space allows. 25m could apply for the value of their pension benefits on 5 April 2014 to be protected up to a maximum value of £1. January 2020. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). If you have registered for online communications, you can update your UK bank details online at If you prefer to send your new details by post, please complete the United Kingdom payment instruction form for all payments within the UK. Je pensioen, dat is iets om naar uit te kijken! Je bent op de juiste plek om je pensioen aan te vragen. The maximum amount of AVCs (normal AVCs, SmartAVCs, lump sum AVCs or a combination) you can save in the BA AVC funds is 50% of your Gross taxable pay. Threshold income is all income subject to income tax, including: You should contact BA for clarification as to what pension contributions should be added back in. You can contact the General Counsel at British Airways Pension Services Ltd. At that time the requirement for the Scheme to add increases stops for any GMP built up to 5 April 1988. Message from the NAPS Trustee - Rule amendments for the closure of the New Airways Pension Scheme (NAPS) to future pension build-up. 5% from 10 April 2023. marital status and relationship data, including the full name, date of birth, contact details and relationship to your proposed beneficiaries. To obtain these two codes please ring 0371 384 2682, or +44. You may need to check with your building society for the correct details to provide. The Lifetime Allowance (LTA) The lifetime allowance (LTA) is £1,073,100 from April 2020. 56% interest. The tax charge for the Lifetime Allowance (LTA) was removed from April 2023. FAQs. If you die whilst an active member of the Scheme - the allowance is calculated as one-sixth of the basic pension you would have received for the years, months and days that you have been in the Scheme plus half the time remaining between the date of your death and Normal. = £104,000. Changes to my life. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). 75%. The lump sum is free of inheritance tax. mybapension. Carry on paying into your BA pension. = £120,000. You can choose to leave your BA pension Scheme (known as opting out) at any time before you leave employment with British Airways. Contact Aviva directly on 0345 030 7964. With this rate you pay the same Scheme contributions that you would pay for the standard 1/75 build-up rate but BA then covers the cost of the additional employer’s National Insurance Contributions (NICs), currently 3. The Government raised the. The Trustees of your pension scheme carry out a check on the charges deducted from your pension pot and, as a minimum, the fund (s) you're invested in if you don't make your own choice. 7% & RPI was 8. At retirement, your AVC account can be taken as extra lump sum or used to buy pension benefits. Our telephone service is currently available between 9am and 1pm, Monday to Friday. The Airways Pension Scheme (APS) is an occupational final salary scheme. New retirement and transfer value factors are in full. Your APS Trustee has invested just under £4. Liverpool. 1% of Band Earnings. Here’s how it works: Start by completing the Login. Alternatively, contact BA Pensions for a provisional quote at any time. Your BA pension is only part of the income you will receive on retirement. You can switch from one of the funds to another on the 1st day of any month. Our telephone service is currently available between 9am and 1pm, Monday to Friday. 5% payment for an Adult Survivor's pension on your death. PO Box 2074. your preferences in relation to your pension benefits, including any elections you may make online through mybapension online; and. After being made redundant by British Airways last year, I have retrained as a teacher. The standard Scheme contributions are: 7. Your BA pension is only part of the income you will receive on retirement. Payment of any Discretionary Increase and/or backdated payments may affect your entitlement to Pensions Credit. Deferred members. You can choose to use it all to provide a monthly income, or take part of it as a lump sum on retirement. You can contact us at any time from age 55 if you wish to draw a reduced pension. I left before 1 April 2007. Your Dependent children can receive allowances on your death. PO Box 2074. 20 x £6,000 p. British Airways appoints six of the Trustee Directors as Employer Nominated Directors (ENDs). com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). PO Box 2074. mybapension. 8 Castle Street. We can't guarantee to publish every one but we’ll try to include it in a future publication, where space allows. However, APS members who leave British Airways and draw all their pension. The Pension Schemes Act 2021 introduces two new conditions that must be met before a transfer can be paid from a defined benefit pension scheme, such as APS or NAPS, to another UK or overseas pension arrangement. The GMP is paid as part of your APS pension once you reach your GMP age. We’ve made improvements to myPension – your online pension tool. We try to answer many of them here and you will also find lots of useful information within other areas of this site. Details of all charges that apply to your scheme, your Trustees' assessment of value for money, and your Trustees' investment governance activity are shown in. mybapension. At Normal Retirement Age. Liverpool. mybapension. mybapension. If there are questions about your benefits that you would like to see answered on this site please let us know. Please quote your pension number (which is the same as your old BA staff number) in all correspondence. I am separating. You can exchange part of your pension for a tax-free lump sum when you take your benefits. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). The AA for your defined benefit (DB) pension savings, such as your APS pension, will also be reduced to £50,000. Close. Hover over or click on the individual bars to see the interest rate for each specific month: For example, if you had an EBF balance of £1,000 on 1 April and the total monthly rate for each of the following 12 months was 0. All Staff – Plan 65. mybapension. The funding level had therefore improved since the last valuation, on. With BA pensions, you have a good basic package but you can improve it by saving more. The Scheme’s funding deficit on 31 March 2021 was £1. We can't guarantee to publish every one but we’ll try to include it in a future publication, where space allows. mybapension. From then on your pension will be paid at the end of every month into your chosen bank or building society account. British Airways Pension Services Ltd | 395 followers on LinkedIn. This can be found at the top of any personal communications we have sent to you. 9% It’s these figures that. Members must have registered with HMRC before 6 April 2017 for Individual Protection 2014 to apply. Your pension is paid from the day after you retire. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS). 50%. In addition, members under State Pension Age who have not selected the 1/54 pension build-up rate (Flying Staff) or the 1/58 build-up rate (Ground Staff) pay an additional 3. Your line manager or Employee Services contact should provide you with your retirement and leaving forms. The Scheme is a Registered Pension Scheme approved under Chapter 2 of the Finance Act 2004. or the Trustee at the following address: British Airways Pensions. mybapension. If you are receiving a single pension entitlement from us, your pension reference number will usually be. PO Box 2074. Mybapension. mybapension. Search NAPS: Log in to see the personal statements and tools available to you. com is for staff who joined British Airways before 1 April 2003 and are. Looking for old news? mybapension. 5m (IP2014). Please use the online ‘ Contact us ’ form to request a CETV quotation, or call us on 020 8538 2100 (9am to 1pm, Monday to Friday). mybapension.