On 5 June 2018, the Trustee wrote to Section A and B members who are potentially affected by a court application currently being brought by BT.
BT has applied to Court for a judicial review of an HM Treasury decision that could impact how pensions in payment are calculated for certain Section B members.
From time to time the Trustee carries out a formal review of the actuarial factors which are used to calculate certain pension benefits.
The Trustee of the Scheme has updated the Privacy Notice, which explains how we manage the personal information that we hold.
BT and the Trustee of the BT Pension Scheme have reached agreement on the 2017 triennial funding valuation.
From April 2015, the Government is allowing individuals with defined contribution (DC) pension savings greater flexibility at retirement which means that those people will have more options to consider when they retire. A new Government service called Pension Wise has been established to help you understand your options in relation to what you may do with your AVCs or other defined contribution plans.
If you have AVCs in the Scheme and provided you are age 50 or over you will have access to the Pension Wise service. Pension Wise offers you:
You can access this free, impartial guidance from the government:
Also see the Pension Wise website www.pensionwise.gov.uk/appoint... which includes a summary of the information you should get ready before an appointment to make it as useful as possible.
The Pension Wise service is not available to members with only defined benefit (DB) pension benefits.
We strongly recommend you access this pensions guidance and also consider taking independent financial advice to help you decide which option is most suitable for you with regards to your AVCs.
Please select from section A, B or C
For members who joined the Scheme before 1 December 1971
For members who joined the Scheme between 1 December 1971 and 31 March 1986
For members who joined the Scheme on or from 1 April 1986 but before the Scheme closed on 31 March 2001