What do I have to do?
Consider all your options carefully. We recommend you see an independent financial adviser to help you decide what's best for you.
If you are planning to take the Flexible Retirement option you should read the information on this website and on the BA intranet and contact your line manager to discuss your part-time working options. If you are planning to fully retire, you should speak to your line manager who will arrange to send us leaving paperwork.
We will send you a retirement pack once we are advised by British Airways that you are leaving British Airways. This will contain details of your pension and retirement options (such as tax-free cash) and also a guaranteed cash equivalent transfer value (CETV). There will also be an option form, which you must complete and return to us as soon as possible.
Your pack will include pension election and payment instruction forms, which you should complete and return to us as soon as possible. We will let you know that we have received your completed forms by email or by post.
Login to Mybapension Online to use the online pension modeller to view your pension and lump sum options at different retirement ages. You can also view your personal benefit statements if you usually receive these.
Alternatively, contact BA Pensions for a provisional quote at any time.
You cannot give or 'assign' your benefits to anyone else. This includes, for example, trying to use your benefits as security for a loan. If you attempt to assign any part of your benefits, you will lose your rights under APS.
Free guidance from Pension Wise
You can also take advantage of free impartial guidance which is available from Pension Wise. Pension Wise is a government service from MoneyHelper that offers free, impartial pensions guidance about your defined contribution pension options. An appointment with Pension Wise is free and will help you understand what your overall financial situation will be when you retire.
It’ll talk you through your options to help you make the right decision. You’ll also find out about the other factors you need to consider when deciding on your options before retirement.