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?
BT has sent an update to all active members of the Scheme giving information about the outcome of the employee consultation.
BT to appeal recent High Court judgment regarding BT’s ability to change from RPI to another index for the purpose of calculating future pension increases for Section C.
The High Court has published its judgment regarding BT’s ability to change from RPI to another index for calculating Section C pension increases.
From time to time the Trustee carries out a formal review of the actuarial factors which are used to calculate certain pension benefits. Such a review has recently been completed and the Trustee has decided to update the actuarial factors with effect from 1 October 2015. If you are retiring before 1 October 2015, this will not affect the retirement amounts provided to you. If you have already requested to retire on or after 1 October 2015 your pension benefits will automatically be calculated on the new factors for your selected retirement date. Depending on the options you have selected, the change in factors is expected to result in either no change or a small uplift to your benefits.
The terms on which pension benefits are calculated are reviewed regularly by the Trustee and will continue to change from time to time.
Please note that if you receive improved benefits (relative to those in your quote before 1 October 2015) as a result of the change to actuarial factors then this may impact your tax position in relation to the annual or lifetime allowances. If you think you may be in this position and wish to reconsider your retirement choices as a result, please contact Peopleline on 0800 731 1919. Please remember that when considering your tax position in relation to the annual or lifetime allowance you must take into account all your pension arrangements and not just your BTPS benefits.
For more information on the current lifetime and annual allowances and details of the changes announced in the Summer Budget, please see the government website https://www.gov.uk/tax-on-your-private-pension/overview”
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