I'm leaving BA

When you leave BA you can leave your pension in APS or transfer it elsewhere.

  • If you leave your pension in APS it is called a deferred pension. 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. The Government raised the minimum retirement age to age 55 from 6 April 2010. Members of APS have some protection from this change (APS members who leave BA and draw all their pension benefits straightaway - including any AVCs and Scheme benefits from previous BA Schemes - can continue to draw their pension from age 50 onwards).
  • Your APS 6 deferred pension will receive increases in accordance with Scheme Rules.
  • You can exchange part of your deferred pension for a lump sum when you draw your pension.
  • You must stop making Additional Voluntary Contributions (AVCs) when you leave BA. Your AVCs stay in the fund and continue to build up with investment income until your Scheme pension becomes payable.
  • You can transfer the value of your BA pension (including your AVCs) to another pension scheme approved by HM Revenue and Customs.
  • The Pensions Regulator (tPR) has recently run a ‘pensions predators’ awareness campaign to warn individuals against transferring pension benefits to arrangements that promise to ‘liberate’ your pension benefits. Visit www.thepensionsregulator.gov.uk/individuals/dangers-of-pension-scams.aspx.

Remember, when you leave BA, you must keep the pension scheme up to date with your latest contact details. You must keep in touch so the payment of your deferred pension is not delayed. You must claim your benefit within 20 years of NRA. Claims made outside this limit will not be met.


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