British Airways readjusts its pension schemes

UK carrier British Airways (BA) has taken further steps to manage its pension liabilities by closing two old schemes to further contributions and opening a new plan. Like many former state-owned companies, BA has been weighed down by heavy pension obligations for years. At the last valuation in March 2015, the New Airways Pension Scheme (NAPS) had a £2.8 billion deficit. The next valuation is scheduled for March 31, 2018. NAPS opened in April 1984 and closed to new joiners in March ...