com. British Airways (BA) has announced a change to the ENDs appointed to the New Airways Pension Scheme (NAPS) Trustee. You can access your pension statements, modeller, payslips and more online. We may also hold and process some special categories or "sensitive. The number of meetings varies from year to year – in some years Trustee Directors could attend an average of 20 meetings. 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. In June you voted to elect Kate Gay, and re-elect Jack Weale, as member-nominated Trustee Directors (MNDs) from the pensioner membership. Your first. 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 ). 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. The Glossary contains definitions of all the technical terms used on this website. 24 March 2023. mybapension. New retirement and transfer value factors are in full. 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. 5 March 2018. 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. They are: The Stock: The pile of facedown cards in the upper left corner. 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 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. This can be paid at, or after Normal Retirement Age, or you can choose to draw a reduced pension from the age of 50 or even earlier if you become too ill to work. mybapension. We can't guarantee to publish every one but we’ll try to include it in a future publication, where space allows. Glossary. For example, if you work on a TPT basis for five months, working 80% of your normal, full-time hours, and then return to full-time working for the next seven months, your pensionable service for the year would be: 5 months x 80% = 4 months. Then divide this by the current LTA and multiply by 100 to work out the percentage of your LTA you have. This limit is called the Annual Allowance (AA). If you’d like to pay some or all of your AA tax charge from your BAPP account (or your Aviva General Investment Account (GIA) if you have one), please call Aviva Life & Pensions on 0345 030 7964 - the helpline is open Monday-Friday 8am-5:30pm. 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). 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. You should give this option careful consideration as opting out means you will be giving up valuable pension scheme benefits. 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. 50% (Flying Staff) of your Pensionable Pay. The Scheme is still required to add inflationary increases - up to the. 20 x £6,000 p. It has a global traffic rank of #2510553 in the world. or the Trustee at the following address: British Airways Pensions. mybapension. 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). 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. mybapension. 50%. L69 2YL. There are two options within NAPS final salary – Plan 65 and Plan 60 for service after 1 April 2007. Don't get stung! Get authorised help and advice about your NAPS pension. Deferred members. mybapension. Alternatively, the informant can fill in our ' Death notification. 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 is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New. British Airways has struck a deal to delay £450m of pension deficit contributions as the company struggles through Covid travel restrictions that have left most of its planes grounded during the. BA Pensions service update. If you leave your pension in APS it is called a deferred pension. mybapension. At Normal Retirement Age. This takes you to a page featuring “My Plans. Our Absent Friends page includes details of former colleagues who have recently died. Cost of living support. The value of your Additional Voluntary Contributions (AVCs) account will depend on: the length of time your AVCs have been invested. The articles confirm that the increases that will be applied to pensions from 10th April 2023. News articles are published on the APS and NAPS websites. 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. Claer Barrett,. 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). Telephone +44 (0) 203 691 3215. 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 further. If you have a general pension question, you may find the answer to your query on the ‘ FAQs ’ page. Mybapension. Attention! Your ePaper is waiting for publication! By publishing your document, the content will be optimally indexed by Google via AI and sorted into the right category for over 500 million ePaper readers on YUMPU. 56% interest. In APS, you pay a standard rate of 7. Member hub. What you get at retirement. Our 2021 Annual Report and Financial Statements now available. More than £4 billion of pensioner benefits insured. 17 March 2023. 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. 15 min ago. Login to MyPension. mybapension. mybapension. Carry on paying into your BA pension. This plan is administered by Aviva Life & Pensions. mybapension. It is very important that someone tells us straightaway when you die by calling the BA Pensions team on 020 8538 2100. If you have a tax query, please call the tax office on 0300 200 3300 or write to: The first payment is made at the end of the month after the month you retire. If you do this, we will add late-retirement increases to your pension to compensate you for the delay in payment. 1. 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. After that we will only provide a pay slip if the amount you will receive changes by more than £0. 5 billion of its pension schemes’ assetsAPS is administered by a Corporate Trustee (Airways Pension Scheme Trustee Ltd), made up of eight Trustee Directors. What I get from my AVC account. 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. Your Post 2007 service pension is a percentage of your pay at retirement for service you have completed after 1 April 2007 in either Plan 60 or Plan 65. Global Vote Activity for the year to 31 March 2018. Email [email protected] Airways Pension Trustees Limited (BAPTL) is a company established to hold the assets of the Airways Pension Scheme (APS) and the New Airways Pension Scheme (NAPS), with BAPTL acting in law as the Custodian Trustee of the assets of both schemes. 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 . mybapension. Bekijk uw betalingen. You can find more information about the MPAA on the HMRC website. Divided by build-up rate. 07m and will still apply in most cases if you draw a pension before 6 April 2023 . The first payment is made at the end of the month after the month you retire. Looking for old news? 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. 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. You can also view your yearly deferred pension statements if you usually receive these. To obtain these two codes please ring 0371 384 2682, or +44. 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 Dependent children can receive allowances on your death. The Lifetime Allowance (LTA) The lifetime allowance (LTA) is £1,073,100 from April 2020. 99. 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. mybapension. Looking for old news? mybapension. NAPS closure – latest news. 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. The Scheme was contracted-out of S2P by the GMP test until April 1997 and subsequently under the Reference Scheme Test until 5 April 2016. Avoiding scams. L69 2YL. He was thrilled to do it, saying it was something he’d waited years to. Your pension is flexible. 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. =. Your line manager or Employee Services contact should provide you with your retirement and leaving forms. Ontdek hoe eenvoudig het is in onze tutorial! Check uw pensioendatum. If you would like us to publish an obituary or eulogy for a former colleague, please send it to us. You pay a standard rate of 7. 1% of Band. You can register for online communications at any time by clicking the 'Register' button, then following the on-screen instructions. PO Box 2074. 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 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 Corporate Trustee. At a glance. Assets held by Naps covered only 87. This is worked out as 20 times your annual rate of pension, e. 75%. The funding level had therefore improved since the last valuation, on. 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 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). BA Pensions service update. The Glossary contains definitions of all the technical terms used on this website. You get automatic tax relief at your highest tax rate. BA has confirmed that Ian. 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. PO Box 2074. mybapension. Call us on: 020 8538 2100 Fax us on: 020 8538 2190. It is likely that you have questions about your British Airways pension benefits. If you choose to work beyond your Normal Retirement Age, your Pre 2007 service pension and your Post 2007 service pension are treated differently. 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 is broadly the difference between benefits you have received, if any, and your contributions plus interest. You can choose to take up to 25% of your pension savings as a tax-free lump sum, with. Carry on paying into your BA pension. 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). At that time the requirement for the Scheme to add increases stops for any GMP built up to 5 April 1988. The soaring cost of gas, electricity, groceries and petrol – combined with global supply-chain disruptions – are increasing the current cost of living from every direction. The tapered AA. The lump sum is free of inheritance tax. Your Scheme 's actuary will work out the increases, and we will add them instead of normal Scheme increases. 7 February 2023. 19. mybapension. If the value of your pension benefits from all UK registered pension schemes exceeds the LTA at the point you draw them, you will incur a tax charge on the amount over the LTA in force at that date. British Airways Pension Plan (BAPP) BA introduced BAPP for its existing employees on 1 April 2018. The Annual Allowance (AA) is the maximum amount by which your pension savings, including any AVCs, can increase in any year without incurring a tax charge. · For most members, the allowable tax-free lump sum you can take across all your pension benefits, from NAPS and elsewhere, is capped at one quarter of the current LTA, amounting to £268,275. Covid-19: Important update about our services - 17 March 2020. The secure site trusted by over 389,000 plan members. More about defined contribution schemes. 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. 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 tax charge for the Lifetime Allowance (LTA) was removed from April 2023. These may have different NRA's; however, they must be treated. 8 Castle Street. If you left employment with BA and left your pension in the Scheme you can draw your benefits any time from age 50 if you wish (subject to certain conditions – see below). PO Box 2074. Retiring Pay - this is usually the average of your pensionable pay over the last two years (or three years in APS Part 5) of pensionable service. The Government increased the minimum age for early retirement to age 55 from April 2010. Paying the NAPS transitional option into the new scheme. Changes to public sector pension schemes. You can switch from one of the funds to another on the 1st day of any month. mybapension. You can contact us at any time from age 55 if you wish to draw a reduced pension. My deferred pension. If you do not have a user ID, you can request one from your NHS Pensions contact. 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. your preferences in relation to your pension benefits, including any elections you may make online through mybapension online; and. mybapension. I will work beyond Normal Retirement Age. 15 March 2018. 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 contact the General Counsel at British Airways Pension Services Ltd. At retirement, your AVC account can be taken as extra lump sum or used to buy pension benefits. Changes to my life. BA has advised that the contribution will be added to your BAPP account in April, after the start of the new tax. 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. The value of your Additional Voluntary Contributions (AVCs) account will depend on: the length of time your AVCs have been invested. The Airways Pension Scheme (APS) is an occupational final salary scheme. 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. 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 Registration Code and the Personal Identification Code is provided by the Pension Service Centre. We will issue a pension increase statement each year, usually near the end of April, with full details of the increase that will apply to your pension and this will include a P60 certificate. com. If there are questions about your benefits that you would like to see answered on this site please let us know. 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. At Normal Retirement Age. If you need to report the death of a loved one, we also. 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. The Scheme is a Registered Pension Scheme approved under Chapter 2 of the Finance Act 2004. This is worked out as 20 times your annual rate of pension, e. Liverpool. The Government has said that it believes that GMPs built up by men and women after 17 May 1990 should be treated equally. Members who expected their benefits at retirement to be more than £1. The Government raised the minimum retirement to age 55 from 6. Carry on paying into your BA pension. 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). BA Pensions have announced today that the scheme rises for APS will be 12. Write to us at: British Airways Pensions. com is for staff who. 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. Key facts: You can save any amount up to 50% of your gross taxable pay. 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). Search APS: mybapension online. before tax is deducted) yearly rate of the pension you are currently receiving (on the date you are due to start receiving your remaining benefits) by 25. Vraag uw pensioen aan. Telephone: 020 8538 2100 (Monday to Friday 9am – 1pm) British Airways Pensions. A lump sum may be paid if no Adult Survivor’s pension is payable. mybapension. Pensions with Lifetime Allowance values between £10,000 and £30,000. The lump sum does not have to be paid to your spouse, partner or surviving dependant. Please complete the United Kingdom payment instruction form for all payments within the UK. The Government gives. If you have a single pension entitlement with us, your pension reference number will usually be your six-digit BA staff number preceded by “1”, for example if your staff number is 097132, your pension reference would usually be 1097132. mybapension. You may need to check with your building society for the correct details to provide. We would like to show you a description here but the site won’t allow us. It is a domain having com extension. The standard Annual Allowance is currently £60,000 a year. Liverpool. PO Box 2074. 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. mybapension. We can't guarantee to publish every one but we’ll try to include it in a future publication, where space allows. It is very important that someone tells us straightaway when you die by calling the BA Pensions team on 020 8538 2100. FAQs. Serious ill health. HM Revenue and Customs sets a limit for the amount you. Former BA Staff Absent Friends. I am a spouse/partner or dependent of a member of NAPS. Log in to see the personal statements and tools available to you. mybapension. This can be found at the top of any personal communications we have sent to you. Tel: 020 8538 2100. However, this will vary according to your age when. Pre-retirement seminars are open to current and former employees who are interested in retirement planning. 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. mybapension. 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. When you leave BA you can leave your pension in APS or transfer it elsewhere. mybapension. This can be found at the top of any personal communications we have sent to you. 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. 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. This is currently paid tax-free. Your pension is paid from the day after you retire. We’ve made improvements to myPension – your online pension tool. 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. In addition, members under State Pension Age who have not chosen the 1/54 build-up rate (Flying Staff) or the 1/58 build-up rate (Ground Staff) pay an additional 3. 1/75. 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 investment objective for the MPF is reviewed. Login to Mybapension Online to use the online deferred pension modeller to view your pension and lump sum options at different retirement ages. If you've already received a user ID, you can log in using your username and password. If you have a general pension question, you may find the answer to your query on the ‘ FAQs ’ page. 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. Providing pension benefits administration and finance operations for 110,000 members. Your BA pension is only part of the income you will receive on retirement. You get automatic tax relief at your highest tax rate. The Scheme is responsible for paying any increases due on your GMP until you reach your GMP 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). You can choose to use it all to provide a monthly income, or take part of it as a lump sum on retirement. Information Information about the Scheme, pension guidance, and accessing your pension details. FAQs. To book a place, contact Vanessa Rowley or Kasia Ambrose on 020 3691 3215 or email: membership@ba. After that we will only provide a pay slip if the amount you will receive changes by more than £0. 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. 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). A lump sum may be paid if no Adult Survivor’s pension is payable. Key facts: You can save any amount up to 50% of your gross taxable pay. FAQs. As an illustration, at age 60, the amount of tax-free lump sum available for every £1 of pension exchanged could be around 21% higher. 1/67. Close. AVC funds. If you are currently paying lower contributions to build your pension up at the lower rate of 1/83, this portion of your pension will be calculated using the 1/83 build-up rate. Your BA pension is only part of the income you will receive on retirement. Once you reach age 65 (men) or age 60 (women) the Scheme is no longer responsible for increasing the amount of GMP built up to 5 April 1988 and is only responsible for any increases due up to 3% a year on the GMP built up since 5. New myPension Features. 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. Click here to read the most recent obituaries. When you start. It is very important that someone tells us straightaway when you die by calling the BA Pensions team on 020 8538 2100. = £120,000. = £104,000. 00%. mybapension online. The information on this site describes the benefits and options available from Part 6 of the Airways Pension Scheme. 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 Trustee Directors of APS and NAPS are the Directors of BAPTL. Employee Self Service - Login; Select login type; BSAFEYou can find information about your pension online – anytime, anywhere. 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). There are two types of trustee directors. 6%. Call us on: 020 8538 2100 Fax us on: 020 8538 2190. How do I withdraw my BA pension? Withdrawing your British Airways (BA) pension depends on the type of pension scheme you have and your age. 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. 24 March 2023. Please keep in mind that for most people, the amount you can take as your tax-free entitlement will stay at 25% of the value of your Scheme pension, up to a maximum amount of £268,275 (25% of the LTA of £1,073,100). 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 tax charge for the Lifetime Allowance (LTA) was removed from April 2023. Pension increases. On this page are details of former colleagues who have recently passed away. Close. You can read the full report here. The seminars are currently being provided exclusively online, by webinar. mybapension. You have choices, so decide for yourself what your. ”. We must receive your written instruction by the 20th of the month for the. You can. Your Post 2007 service pension is a percentage of your pay at retirement for service you have completed after 1 April 2007 in either Plan 60 or Plan 65. 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 contributions are deducted automatically from your monthly. mybapension. com. The Trust Deed and Rules provide that, of the eight. 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. Alternatively, contact BA Pensions for a provisional quote at any time. If your deferred pension has a cash equivalent value of £10,000 or less, 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. You can do this by logging in to Mybapension online. mybapension. Providing pension. If you are receiving a single pension entitlement from us, your pension reference number will usually be.