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. These members receive a pension made up of two parts – the Guaranteed Minimum Pension (GMP) and an excess over the GMP. The Court proceedings relate solely to how increases are calculated on a portion of the GMP for those Section B members reaching State Pension Age between 6 December 2018 and 5 April 2021.
The Trustee is retaining a neutral position in relation to the proceedings but has the right to make submissions and will ensure the Court has all relevant information it is aware of. In addition, the Trustee appreciates that the Court process can be seen as complicated and intimidating and so has offered to help these members submit their views to the Court.
The Trustee has identified and written to those members who could potentially be affected by the outcome of the judicial review but if you have not received a letter and have information that may be relevant, then please email it toor write FAO: BTPS Judicial Review, care of Allen & Overy (SSF) Ltd, 68 Donegall Quay, Belfast BT1 3NL.
The Judicial Review hearing will take place on 7/8 November, 2018 and the Trustee will continue to keep members updated on any developments.