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.
The Trustee has a fiduciary responsibility to meet the Scheme's liabilities and as a long-term asset owner considers sustainable factors to improve long-term risk adjusted returns. The area of sustainability as defined by the Trustee covers long-term factors such as environmental, social and governance (ESG) and stewardship. For information about BTPS' Responsible Investment Policy please click here.
The importance of responsible investment is illustrated by the scheme being a founder signatory to the United Nations-backed Principles for Responsible Investment initiative (PRI). PRI provides a framework for investors to take ESG issues fully into account in their investment and ownership decisions and actions and the Trustee remains committed to its membership and active support of the organisation. Click here to view the BTPS’ PRI transparency report 2016.
The Trustee is also guided by the requirements of the Financial Reporting Council’s Stewardship Code for UK institutional investors. For further information click here.
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