Since our initial posting on 30 May informing you of BT’s proposed benefit review, BT has engaged with employees and the unions, including representatives from CWU and Prospect.
The Trustee has now published the Summary Funding Statement outlining the results of the 30 June 2016 actuarial interim assessment.
BT have announced that they have commenced a review of the BT Pension Scheme (BTPS) benefits.
Reforms in April 2016 introduced the new State Pension. Most people reaching State Pension Age this year won’t be entitled to the full amount. How much will your State Pension be?
Following the announcement of a general election, the Government is expediting the Finance (No 2) Bill before Parliament is dissolved on 3 May 2017.
There is a new flat-rate (single-tier) State Pension that has been introduced which has replaced the basic State Pension and additional State Pension. The full new State Pension will initially be £155.65 per week. The amount will be based on your National Insurance contributions history and individual circumstances.
If you reached your State Pension Age before 6 April 2016, you will receive a benefit based on the Pre 6 April 2016 system.
Understanding your State Pension is an important part of planning for your retirement. If you want to find out more you can visit www.gov.uk/new-state-pension.
Please select from section A, B or C
For members who joined the Scheme before 1 December 1971
For members who joined the Scheme before 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