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 leave the Company before Normal Pension Age then you have to leave the Scheme.
You can then choose:
Deferred pension benefits will be based on your Final Pensionable Salary and Pensionable Service at the date of leaving. The benefits will be retained in the Scheme and increased in line with the Scheme's pension increase arrangements until they become payable - i.e. until you retire or die.
If you leave your deferred pension in the Scheme and then suffer ill health, you may apply to take it early without an early retirement reduction on ill-health grounds or you may apply to take your deferred pension early with an early retirement reduction.
If you have a deferred pension and die before Normal Pension Age, your Spouse, Civil Partner or Adult Dependant and any eligible children will receive pensions similar to those that would have been payable if you had died in service. However, there will be no enhancement of Pensionable Service. In addition, a preserved lump sum death benefit would be payable. For more details of the benefit see the Member Booklet in the Useful documents section of this website.
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