Section A
News feed
BT Pension Scheme appoints Morten Nilsson as Chief Executive Officer
09
Oct
2018
The Trustee of the BT Pension Scheme (BTPS) is pleased to announce the appointment of Morten Nilsson as Chief Executive Officer of BT Pension Scheme Management Limited (BTPSM).
Section C Court Case: update
04
Oct
2018
An update on the court case relating to Section C of the BT Pension Scheme
Judicial Review Update
03
Aug
2018
There was a short interim hearing for the Court to decide how any questions regarding the interpretation of the BTPS Rules should, as a matter of process, be dealt with.
Summary Funding Statement and an update on the closure of the Scheme
25
Jul
2018
The Trustee has published this year's Summary Funding Statement giving an update on the Scheme's funding position.
What you pay
You pay 6% of your Pensionable Salary each pay period.
These payments are known as your pension contributions and are deducted from your pay automatically. You get full tax relief on your contributions (under current law).
For example, if your salary is taxed at the basic rate of 20%, each £1 you pay into the Scheme costs you 80p. If your salary is taxed at 40%, each £1 you pay into the Scheme costs you 60p, and if taxed at 45% each £1 paid into the Scheme costs you 55p.
You will not receive tax relief on any pension savings that exceed the Annual Allowance.
Alternatively, you can decide to make your contributions through Smart Pensions, which increases your take home pay without changing your pension benefits. For more information please refer to the Smart Pension section.
You stop paying contributions if you leave the Company or when you retire, whichever happens first.
You can find out more about Contributions and Tax relief by referring to the ‘Section A Member Booklet’ in the Document library.