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News that British Airways plans to close its main pension plan isn’t sitting well with unions representing the airline’s workers, and they are demanding urgent talks with the carrier.
The airline says the move is driven by a “significant and growing” deficit for the plan that has 17,000 members, writes James Sillars for Sky News. Two unions, Unite and GMB, issued a joint response, he continues.
“Thousands of loyal and long-serving staff, who have helped build British Airways into a world-class flag carrier for this country and one of the most recognisable global brands, now face uncertainty in their retirement.
“Our team of financial analysts has worked tirelessly with the airline over the last few months to explore ways to keep the pension scheme open and secure it for the future.”
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ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans – ARIA pensions blog, 12 Dunlop Street, Barrie, ON, L4N 1V6 – sitemanager@ariapensions.ca

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