Section A
News feed
BT Pension Scheme to sell majority stake in Hermes
13
Apr
2018
Federated Investors, Inc. to Acquire Majority Interest in London-based integrated ESG Manager Hermes Investment Management from BT Pension Scheme.
Section C Court Case: Appeal
09
Apr
2018
Further to our update in February, BT was granted permission to appeal the High Court judgment to the Court of Appeal.
Closure of the BT Pension Scheme
19
Mar
2018
BT has announced the closure of Section B and C of the Scheme to future accrual in early summer 2018, having reached an agreement with the Communication Workers Union and Prospect.
2018 Trustee Newsletter now available
20
Feb
2018
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.
Pension Scams
Pension scheme members are being approached by ‘unregulated’ providers with tempting investment and cash offers for their pension savings. Beware! This type of offer could be a scam, so check carefully before making any decisions. These offers may sound legitimate but they typically offer unusual investments like overseas property or biofuel, promising high returns, whilst not making you aware of the high risks and downsides.
Early access to your pension savings may sound tempting, but usually you can’t access pension savings before either age 50 or 55 unless you are seriously ill. So make sure you check your facts before you make an irreversible decision. If you’d like more information or want to report pension fraud, contact The Pensions Advisory Service, using the details on www.pensionsadvisoryservice.org.uk or Action Fraud on 0300 123 2040. Being taken in by one of these scams is likely to result in you being poorer in retirement, and could mean you face substantial tax charges.
There are certain things to look out for: website promotions, in-home visits from ‘introducers’, cold calls, text messages or adverts encouraging you to transfer your pension to a new arrangement for a cash payment or loan. Please take the time to read the Money Advice Service's guide to pension scams and the Pensions Regulator's guide to pension scams before making any important decisions in relation to your pension savings.