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.
After much speculation, the Treasury has announced that it would not be looking to implement ‘significant changes’ to the UK’s pension taxation system.
If you get divorced, BTPS may be required to allocate or pay part of your retirement or death benefits to your ex-spouse to comply with any court order requiring this.
This can happen even if you are already receiving a pension. Part of your pension will then belong to your former spouse, who must then transfer the value of it to another pension arrangement. This process is known as ‘pension sharing’.
If you are getting divorced it is important that you review your Expression of Wish Form and seek legal advice as the options can be complex.
If you need detailed information about the value of your benefits in connection with a divorce, you will need to contact Accenture.
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