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.
Following the merger of Age Concern and Help the Aged, Age UK is the new national network providing help and care for older people.
A Registered Charity for present and former BT employees, their families and dependants.
There is a lot of useful information on the Government site, DirectGov:
The Money Advice Service website contains a guide to choosing and independent financial advisor (IFA)
The Inland Revenue web site features news and information on UK tax and national insurance matters.
An independent non-profit organisation that provides information and guidance on the whole spectrum of pensions, covering State, company, personal and Stakeholder schemes.
The Pensions Regulator is the regulatory body for work-based pension schemes in the UK, and replaced OPRA, the Occupational Pensions Regulatory Authority.
If you lose contact with a former pension scheme(s), the tracing service run by the Department of Works and Pensions may be able to help you in contacting the trustees of a previous employer’s pension scheme if you cannot trace them yourself. The service is available online or you can write or phone:
Pension Tracing Service
The Pension Service
Newcastle upon Tyne
Phone: 0845 600 2537
If you have AVCs, Pension Wise is a government service offering free, impartial guidance around the options you have with respect to your DC pension savings, the implications of each option, and how to get the best deal.
Phone: 030 0330 1001
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