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 number of responsibilities and must always act in the best interest of ALL the Scheme's beneficiaries. This includes deferred members, pensioners and beneficiaries, as well as active members (current employees). Specifically, the Trustee's main responsibility is "to pay all of the benefits as they fall due under the Scheme, in accordance with the Trust Deed and Rules". However, in addition, the Trustee:
The Trustee will normally send Active Members a benefit statement every year giving details of your projected future benefits. Deferred members are usually sent a statement each year showing the current value of their deferred benefits. All members of the Scheme are sent a summary of the Scheme's annual Report and Accounts.
The Trustee's full Annual Report and Accounts includes details of the Scheme's general progress and investment information.
The most recently published editions of the summary and full versions of the Scheme's Annual Report and Accounts are available to view or download through this website on the 'Scheme Report and Accounts' page of the document library.
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