Federated Investors, Inc. to Acquire Majority Interest in London-based integrated ESG Manager Hermes Investment Management from BT Pension Scheme.
Further to our update in February, BT was granted permission to appeal the High Court judgment to the Court of Appeal.
BT has announced the closure of Section B and C of the Scheme to future accrual in early summer 2018, having reached an agreement with the Communication Workers Union and Prospect.
The 2018 Trustee newsletter is now available and can be found on the Useful documents page. Members will receive a copy in the post over the next few weeks.
Are you looking to make a change to your regular additional voluntary contribution (AVC) payments in this tax year?
If you die while you are still employed with the company and are an Active Member of the Scheme, then the following benefits will be paid:
If there is no Spouse or Civil Partner, at the discretion of the Trustee, an Adult Dependant's pension may be payable.
If you die whilst in Pensionable Service a minimum lump sum of three times your Final Pensionable Salary (or the lump sum which would have been paid if you had been retired on medical grounds at the date of your death, if greater) will be paid to your beneficiaries.
For more information please refer to the Death in Pensionable Service section of the Explanatory booklet for Section A Members which can be found in the Useful documents section of this website.
A pension for life will also be paid to your Spouse or Civil Partner. If you do not have a spouse or civil partner, you may nominate an Adult Dependant to the Trustee who may then consider them for a pension.
This pension will be calculated up to a maximum of half the pension you would have received on ill-health retirement (i.e. calculated on enhanced Pensionable Service).
However, your Pensionable Service for this purpose will be based on your Pensionable Service since 1 June 1972, or from the date of joining the contributory part of the Scheme, if earlier.
A pension may also be paid to a dependent child or children.
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