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BRIEF-IAG Says ‍British Airways To Launch New Uk Pension Scheme
December 8, 2017 / 7:16 AM / in 5 days

BRIEF-IAG Says ‍British Airways To Launch New Uk Pension Scheme

Dec 8 (Reuters) - IAG:

* ‍BRITISH AIRWAYS TO LAUNCH NEW UK PENSION SCHEME AND CLOSE ITS MAIN DEFINED BENEFIT SCHEME TO FUTURE ACCRUAL​

* BRITISH AIRWAYS DECIDED TO LAUNCH A FLEXIBLE BENEFITS SCHEME INCORPORATING A NEW DEFINED CONTRIBUTION PENSION SCHEME​

* ‍NEW SCHEME WILL OFFER MARKET-COMPETITIVE ARRANGEMENTS WITH A CHOICE OF CONTRIBUTION RATES AND ABILITY TO OPT FOR CASH INSTEAD OF A PENSION​

* ‍SCHEME WILL OPEN ON APRIL 1, 2018 REPLACING MAIN UK DEFINED BENEFIT SCHEME, NEW AIRWAYS PENSION SCHEME, MAIN UK DEFINED CONTRIBUTION SCHEME, BRITISH AIRWAYS RETIREMENT PLAN​

* ‍OVERALL FINANCIAL IMPACT ON BRITISH AIRWAYS WILL DEPEND, IN PART, ON TRANSITION ARRANGEMENTS MEMBERS SELECT​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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