BA pensions shake-up

BrItISH Airways is closing its final salary pension scheme and replacing it next year.

the defined benefit scheme, which has 17,000 members, had a black hole of £2.8bn at its last valuation in 2015, but since then this is thought to have climbed to £3.7bn.

the airline’s defined contribution pension scheme, which has about 20,000 members, will also be replaced, the company said.