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 ). com is a site for staff who joined British Airways before 1 April 2003 and are members of the Airways Pension Scheme (APS) or the New 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). The Government raised the. 56% interest. 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. The lump sum is free of inheritance tax. The additional pension can be paid to a dependant other than your spouse or partner and your Dependent Children or you can use this option to increase the standard spouse or partner cover or Dependent children's cover. Your deferred pension will be reduced if the pension will be paid earlier than your Normal Retirement Age. 25m could apply for the value of their pension benefits on 5 April 2014 to be protected up to a maximum value of £1. You can access your pension statements, modeller, payslips and more online. 20 x £6,000 p. 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. The Government raised the minimum retirement age to age 55 from 6 April 2010. Serious ill health. The Glossary contains definitions of all the technical terms used on this website. With BA pensions, you have a good basic package but you can improve it by saving more. The first is a final salary NAPS (New Airways Pension Scheme) that I contributed to. Welfare, Social & Benefits. Login to Mybapension Online to use the online pension modeller to view your pension and lump sum options at different retirement ages. 1/60. It is very important that someone tells us straightaway when you die by calling the BA Pensions team on 020 8538 2100. mybapension. BA Pensions service update. Looking for old news? mybapension. 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. BA Pensions service update. Carry on paying into your BA pension. A factor of 16 is used to work out the value of a final salary pension to compare against the AA, so this would be equivalent to a. 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. Our Absent Friends page includes details of former colleagues who have recently died. Telephone: 020 8538 2100 (Monday to Friday 9am – 1pm) British Airways Pensions. If you are a small or medium-sized business and would like to earn your company points when your employees travel. 8. Don't get stung! Get authorised help and advice about your NAPS pension. 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. Check the square box next to the plan name (s) for the 1099 (s) you want to download. Serious ill health. = £104,000. 5. mybapension. com is 2 decades 6 months old. 17 billion (2018: £19. 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 submit your Notice of Wish directly to the Pensions team by logging into Mybapension online and filling in the online Notice of Wish. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New. This brings the total 2023 pension increase for eligible pensions to 12. With this rate you pay the same Scheme contributions that you would pay for the standard 1/75 build-up rate but BA then covers the cost of the additional employer’s National Insurance Contributions (NICs), currently 3. With myPension you can access your personal pension information,. The term of office for a Trustee Director is for a period of between five and five-and-a-half years. 4 billion). British Airways (BA) has announced a change to the ENDs appointed to the New Airways Pension Scheme (NAPS) Trustee. com. This allowable tax-free sum limit will remain. 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). The investment objective for the MPF is reviewed. Or you can draw your whole BAMPS Account as an Uncrystallised Funds Pension. In June you voted to elect Kate Gay, and re-elect Jack Weale, as member-nominated Trustee Directors (MNDs) from the pensioner membership. Our 2021 Annual Report and Financial Statements now available. It is very important that someone tells us straightaway when you die by calling the BA Pensions team on 020 8538 2100. The seminars are currently being provided exclusively online, by webinar. 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. It is likely that you have questions about your British Airways pension benefits. The Government raised the minimum retirement to age 55 from 6. Call us on: 020 8538 2100 Fax us on: 020 8538 2190. put you in control of your financial future and planning. 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). · For most members, the allowable tax-free lump sum you can take across all your pension benefits, from APS and elsewhere, is capped at one quarter of the current LTA amounting to £268,275. Download and print the. State Pension age is now equal for men and women (and gradually rising to 68 for people born after 6 April 1970), but the ages that GMPs apply from have not changed. Pensions with Lifetime Allowance values between £10,000 and £30,000. 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 Scheme is still required to add inflationary increases - up to 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). Contact Aviva directly on 0345 030 7964. If you are in Plan 60, half the potential service to age 60 would be included in the calculation of your ill health pension. Log in to see the personal statements and tools available to you. We offer three AVC investment funds: The Equity Biased Fund (EBF) The Short-dated Gilts Fund (SGF) The Mixed Portfolio Fund (MPF) You can divide your AVCs between any of these funds. 22. 1% of Band Earnings. mybapension. My deferred pension. Currently AVCs can be taken as part of the maximum tax-free lump sum of up. Login to Mybapension Online to use the online deferred pension modeller to view your pension and lump sum options at different retirement ages. 25% (Ground Staff) or 8. More than £4 billion of pensioner benefits insured. your preferences in relation to your pension benefits, including any elections you may make online through mybapension online; and. Scheme documents. Additional Voluntary Contributions (AVCs) You can save AVCs on top of your basic Scheme pension and they are a tax-efficient way of saving for extra pension or lump sum benefits when you retire. If you are receiving a single pension entitlement. com is for staff who joined British. Information about the Scheme, pension guidance, and accessing your pension details. mybapension. Call us on: 020 8538 2100 Fax us on: 020 8538 2190. In addition to the contributions shown above, members who are under State Pension Age pay 3. com. You cannot give or 'assign' your benefits. 07m and will still apply in most cases if you draw a pension before 6 April 2023 . 24 March 2023. This allowable tax-free lump sum limit will. 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 Trustees of your pension scheme carry out a check on the charges deducted from your pension pot and, as a minimum, the fund (s) you're invested in if you don't make your own choice. You can. PO Box 2074. My Account is key to. If you have a general pension question, you may find the answer to your query on the ‘ FAQs ’ page. 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 then have a further opportunity to make a transfer of any remainingContact us at: Send a message via ' Contact us '. If you are receiving a single pension entitlement from us, your pension reference number will usually be. Tom Ridge signed a law that expanded pensions for those employees by 25% — and even more for state lawmakers. Login to MyPension. mybapension. What you get at retirement. Defined Contribution Members. mybapension. mybapension. If you no longer have this, please call the Pensions Team on 020 8538 2100 (9am to 1pm, Monday-Friday). What you get from NAPS will depend on your Qualifying service (the period of time you paid contributions to the Scheme), adjusted for any changes in your BA occupations prior to 31/3/07 (such as a move from Flying Staff to Ground Staff), plus any service you transferred into the Scheme. com is for staff who joined British. Since 6 April 2016, if you are under State Pension Age you also pay 3. mybapension. Alternatively, contact BA Pensions for a provisional quote at any time. Telephone: 020 8538 2100 (Monday to Friday 9am – 1pm) British Airways Pensions. (your Pensionable Service to 31 March 2007 x your Retiring Pay ) divided by 52 Build-up rate (Flying Staff) or by 56 Build-up rate (Ground Staff). To book a place, contact Vanessa Rowley or Kasia Ambrose on 020 3691 3215 or email: membership@ba. ”. Many building societies use different banks to process BACS payments. Your first. You can register for online communications at any time by clicking the 'Register' button, then following the on-screen instructions. HM Revenue and Customs (HMRC) will only allow such payments if you have a short time to live. L69 2YL. gov registration process, which includes setting up an email and password for future logins. 65 billion (2018: £2. We’ve made improvements to myPension – your online pension tool. Retirement flexibility – You have mentioned that your earnings have reduced following your redundancy and, if you were to retain the BA pension, and the retirement age was say 60, you could. Your Dependent children can receive allowances on your death. mybapension. We can't guarantee to publish every one but we’ll try to include it in a future publication, where space allows. 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 can be paid at, or after, your 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. Visit the Scheme documents page to view the annual report and financial statements for the year ending 31 March 2021. 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. 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. mybapension. give you the flexibility to adapt to your changing lifestyle. If you've already received a user ID, you can log in using your username and password. Please complete the United Kingdom payment instruction form for all payments within the UK. 5%. The seminars are currently being provided exclusively online, by webinar. indd 2 22/08/23 3:43 PMPlease use the online ‘ Contact us ’ form to request a CETV quotation, or call us on 020 8538 2100 (9am to 1pm, Monday to Friday). APS is administered by a Corporate Trustee (Airways Pension Scheme Trustee Ltd), made up of eight Trustee Directors. Information Information about the Scheme, pension guidance, and accessing your pension details. 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 will continue to provide AA statements for members whose pension input amount exceeds the standard £60,000 AA. 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 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). The Scheme is a Registered Pension Scheme approved under Chapter 2 of the Finance Act 2004. The full Trustee Board meets at least four times a year, and the sub-committees also convene regularly during the year. If there are questions about your benefits that you would like to see answered on this site please let us know. 07m and will still apply in most cases if you draw a pension before 6 April 2023 . You pay a standard rate of 7. Search APS: mybapension online. mybapension. 50%. The Scheme is responsible for paying any increases due on your GMP until you reach your GMP age. | BA Pensions manages specialist teams dedicated to pensions and financial services. 07m and will still apply in most cases if you draw a pension before 6 April 2023 . 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. We must receive your written instruction by the 20th of the month for the. 6%. 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 can be found at the top of any personal communications we have sent to you. Your Scheme 's actuary will work out the increases, and we will add them instead of normal Scheme increases. Carry on paying into your BA pension. 1/67. mybapension. The lump sum is free of inheritance tax. You may become a parent, get married or start a committed relationship. Currently AVCs can be taken as part of the maximum tax-free lump sum of up to 25% of the available Lifetime Allowance , even if you started paying AVCs after 8 April 1987. mybapension. 50%. However, APS members who leave British Airways and draw all their pension. Address changes can also be accepted in writing with a signature (our address is on the Contact us page). I left before 1 April 2007. mybapension. 8 Castle Street. 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. L69 2YL. A pension of two-thirds of the pension you earned whilst paying the higher contributions towards an Adult Survivor’s pension (before any adjustments to your own pension such as taking a tax-free lump sum or any early retirement reduction) will automatically be paid to your husband, wife or civil partner. mybapension. £21. 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. Unlike the AA, any unused MPAA cannot be carried forward to later tax years. 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. 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. 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. 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. Login to Mybapension Online to use the online deferred pension modeller to view your pension and lump sum options at different retirement ages. The lump sum is broadly the difference between benefits you have received, if any, and your contributions plus interest. The informant will need your pension reference number when calling the team. 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 retire and draw a reduced pension before your Normal Retirement Age - from age 50. If you are making your normal Scheme contributions via BA's SmartPension arrangement the maximum AVC amount you can save is 50% of your Gross taxable pay after reductions. If you have not yet registered and have lost your registration letter please contact BA pensions on 020 8538 2100 to request a duplicate to be sent to you in the post. Then divide this by the current LTA and multiply by 100 to work out the percentage of your LTA you have. mybapension. At retirement, your AVC account can be taken as extra lump sum or used to buy pension benefits. 1/75. mybapension. Here’s how it works: Start by completing the Login. The secure site trusted by over 389,000 plan members. Simply sign in to My Account to find all your pension information in one place. 19. We offer three AVC investment funds: The Equity Biased Fund (EBF) The Short-dated Gilts Fund (SGF) The Mixed Portfolio Fund (MPF) You can divide your AVCs between any of these funds. Key facts: You can save any amount up to 50% of your gross taxable pay. 24 March 2023. For some of these life changes, you may need to reconsider what you are paying into your BA pension. The APS Discretionary Increase Settlement makes provision for payment of a Discretionary Increase in 2020 of 75% of the gap between RPI and the Government’s PIRO increase for 2020 (The PIRO increase is expected to be 1. If you have not yet registered and have lost your registration letter please contact BA pensions on 020 8538 2100 to request a duplicate to be sent to you in the post. We provide a pay slip with your first pension payment. mybapension. 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. If you are receiving a single pension entitlement from us, your pension reference number will usually be. 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). Scheme information. If you are making your normal Scheme contributions via BA's SmartPension arrangement the maximum AVC amount you can save is 50% of your Gross taxable pay after reductions. 1. Currently AVCs can be taken as part of the maximum tax-free lump sum of up to 25% of the available Lifetime Allowance. We would like to show you a description here but the site won’t allow us. 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 ), adjusted for any changes in your BA occupations prior to 1 April 2007 (such as a move from Flying Staff to Ground Staff), plus. If your pension in payment has a cash equivalent value* of £10,000 or less (currently pensions up to approximately £500 a year), 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. If, as a result of separating from your spouse or partner, you want to stop making the additional payment, you can do so for the future by filling out the Adult Survivor's pension opt out form or by writing to us, giving at least one calendar. BA has advised that the contribution will be added to your BAPP account in April, after the start of the new tax. This takes you to a page featuring “My Plans. What you get from NAPS will depend on your Qualifying service (the period of time you paid contributions to the Scheme), adjusted for any changes in your BA occupations prior to 31/3/07 (such as a move from Flying Staff to Ground Staff), plus any service you transferred into the Scheme. The information on this site describes the benefits and options available from Part 6 of the Airways Pension Scheme. Your deferred pension does not need to be assessed against the AA unless you are a pilot who chose the three-year promotional. L69 2YL. mybapension. Members of APS have some protection. Visit the Scheme documents page to view the annual report and financial statements for the year ending 31 March 2021. 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). 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 would like us to publish an obituary or eulogy for a former colleague, please send it to us. 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. Write to us at: British Airways Pensions. mybapension. You have choices to pay more and also have security for your family and in case you fall ill before retirement. However, APS members who leave British Airways and draw all their pension. Search APS: mybapension online. The standard Scheme contributions were 8. BA Pensions have announced today that the scheme rises for APS will be 12. L69 2YL. Register for My Account. For others, such as becoming too. 6%. PO Box 2074. Percentage of Pensionable Pay that you pay. 17. mybapension. If you have a tax query, please call the tax office on 0300 200 3300 or write to: PAYE. The Scheme was contracted-out of S2P by the GMP test until April 1997 and subsequently under the Reference Scheme. 17 March 2023. What you pay. Pensions with Lifetime Allowance values between £10,000 and £30,000. The Government gives. 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. mybapension. We will normally work out and pay your deferred pension from the same day of any month on which your birthday falls, so if your birthday is 23rd August but you want to draw your pension in March, we will work out and pay your pension from 23rd March. The Government raised the minimum. 1. 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. There are four different types of piles in Solitaire. The informant will need your pension reference number when calling the team. PO Box 2074. AVC-only transfer options . The informant will need your pension reference number when calling the team. 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). 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. The GMP is paid as part of your NAPS pension once you reach your GMP age. The GMP is paid as part of your APS pension once you reach your GMP age. com is for staff who joined British Airways before 1 April 2003 and are. The settlement also includes an intention, subject to an affordability test, for Discretionary Increases to be made from. L69 2YL. mybapension. You can register for online communications at any time by clicking the ' Register ' button, then following the on-screen instructions. Alternatively, the informant can fill in our ' Death notification. 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). Cost of living support. You cannot give or 'assign' your benefits to anyone else. mybapension. You cannot give or 'assign' your benefits. Claer Barrett,. g. The Retail Price Index (RPI) rise over the twelve months to September 2022 was 12. Write to us at: British Airways Pensions. We provide a pay slip with your first pension payment. 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). It is very important that someone tells us straightaway when you die by calling the BA Pensions team on 020 8538 2100. You may need to check with your building society for the correct details to provide. The two conditions are applied in order and, if neither condition is met, any statutory right you may have to transfer is removed and. I'm changing jobs. 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. You can retire and draw a reduced pension before your Normal Retirement Age - from age 50. Your line manager or Employee Services contact should provide you with your retirement and leaving forms. This allowable tax-free lump sum limit will. 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. This is worked out as 20 times your annual rate of pension, e. com is for staff who joined British Airways before 1 April 2003 and are members of British Airways' Airways Pension Scheme (APS) and New. 2 Contents 04 Welcome to your pension 08 How much should I save? 16 How is my money invested? 33 Know your funds 39 Your choice of funds 43 Keeping track of your pension 49 Frequently-asked questions 57 Get in touch AV941280_NGS47333A1_MM39066_0823. a. 50% ( Flying Staff) of your Pensionable pay. Alternatively, the informant can fill in our ' Death notification. The maximum amount of AVCs (normal AVCs, SmartAVCs, lump sum AVCs or a combination) you can save in the BA AVC funds is 50% of your Gross taxable pay. They are: The Stock: The pile of facedown cards in the upper left corner. Was this page useful? mybapension. Your contributions are deducted automatically from your monthly. The tapered AA. The Scheme was contracted-out of S2P by the GMP test until April 1997 and subsequently under the Reference Scheme Test until 5. PO Box 2074. 1. 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. 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. Alternatively, contact BA Pensions for a provisional quote at any time. The informant will need your pension reference number when calling the team. 1. You are now logged out. NAPS amendments to Trust Deeds since June 2019. It is likely that you have questions about your British Airways pension benefits. 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. I left before 1 April 2007. The lump sum does not have to be paid to your spouse, partner or surviving dependant. 15 min ago. The Corporate Trustee. com. Please quote your pension number (which is the same as your old BA staff number) in all correspondence. The Waste: The. 7%). Your basic pension = (your Pensionable Service x your Retiring Pay) divided by 52 build-up rate ( Flying Staff) or by 56 build-up rate (Ground Staff). If you are suffering from a life-threatening illness it may be possible to receive all of your pension as a tax-free lump sum (calculated on reduced terms) whilst continuing to provide a pension for your dependents should you die. 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. If you no longer have access to this email address please contact the Pensions Team on 0208 5382100 for assistance. mybapension. mybapension. 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. Total Reward Statement Portal. 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. Your BA pension is only part of the income you will receive on retirement. You have choices, so decide for yourself what your. The New Airways Pension Scheme ( NAPS) – is a final salary scheme administered by ( British Airways Pension Services Ltd (BAPSL) ). NAPS Top 100 Equity Holdings list. Pension increases. mybapension. Information on the British Airways Money Purchase (BAMPS) section of NAPS, which closed to active members on 1 October 2012, is available in the Deferred members area of this website. Your Scheme 's actuary will work out the increases, and we will add them instead of normal Scheme increases. Scheme increases in NAPS are generally in line with the Government’s yearly Pensions Increase (Review) Orders (PIRO), up to a maximum of 5% in any year. This can be found at the top of any personal communications we have sent to you. You can take your benefits any time from age 55 if you wish. 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. If you are receiving a single pension entitlement. mybapension. 5m (IP2014). 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. Most APS pension payments are paid in arrears and are made by the last working day of each month. However, this will vary according to your age when. PO Box 2074. The 2023 Pension Increase is 5%. You can choose to leave your BA pension Scheme (known as opting out) at any time before you leave employment with British Airways. The number of meetings varies from year to year – in some years Trustee Directors could attend an average of 20 meetings. 1% of Band Earnings. 2.