On 5 June 2018, the Trustee wrote to Section A and B members who are potentially affected by a court application currently being brought by BT.
BT has applied to Court for a judicial review of an HM Treasury decision that could impact how pensions in payment are calculated for certain Section B members.
From time to time the Trustee carries out a formal review of the actuarial factors which are used to calculate certain pension benefits.
The Trustee of the Scheme has updated the Privacy Notice, which explains how we manage the personal information that we hold.
BT and the Trustee of the BT Pension Scheme have reached agreement on the 2017 triennial funding valuation.
One of the keys to good governance is ensuring adequate Trustee knowledge, training and performance evaluation.
All the Trustee Directors currently have the skills and knowledge necessary to carry out their role effectively. New Trustee directors complete a self-assessment questionnaire to identify their training needs. Suitable initial and ongoing training is then provided. All Trustee Directors are asked annually (at least) to identify their further training needs.
The Chairman of the Trustee Board, supported by the Secretary to the Trustee, is responsible for a formal and rigorous annual appraisal of the Trustee Directors. This includes an assessment of their competence in the various areas of trusteeship, and the need for further training.
The Chairman of the Trustee Board is responsible for ensuring that Trustee Directors taking investment decisions are familiar with the issues involved and are able to evaluate critically any advice received. The Trustee applies the Myners Principles, but has taken a deliberate decision that strategic investment issues should be considered by the Trustee body as a whole, and not by a subcommittee. The Trustee Directors believe that investment strategy (as opposed to day-to-day) decisions should be considered by the full Trustee body. Investment Committee considers more detailed and tactical issues. A sub-committee with appropriate expertise may be appointed from time to time for specific projects.
Please select from section A, B or C
For members who joined the Scheme before 1 December 1971
For members who joined the Scheme between 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