SRC Wealth Management | a Chartered Financial Planning company that provides specialist advice on defined benefit pension transfers

British Airways shuts DB scheme


British Airways has decided to shut its defined benefits pension scheme.  The scheme closed to new joiners in 2003 but existing members have benefited from further pension accrual until now.  BAs' DB scheme has a significant deficit that the company has unsuccessfully tried to plug in recent years.  BA Pensions has temporarily suspended providing transfer values for active members to protect service levels.