BA adds salary sacrifice for additional voluntary contributions to its pension scheme

British Airways is introducing salary sacrifice for additional voluntary contributions (AVCs) into all of its pension schemes, with effect from 1 October.

Its SmartAVC scheme will enable staff to save national insurance (NI) on AVCs, while also offering NI savings for BA.

BA runs two defined benefit (DB) pension schemes, which were closed to new entrants in 2003, and one defined
contribution (DC) plan.

Janine Sparks, reward manager, employee benefits, said: “The scheme will add value for those already saving and we hope it will encourage others to make AVCs.”

Janine Sparks will be speaking about wellbeing at Employee Benefits Live on 28 September

Read more about pensions via salary sacrifice arrangements