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Summary Funding Statement and an update on the closure of the Scheme

Summary Funding Statement

The Trustee publishes a Summary Funding Statement giving an update on the Scheme's funding position. The 2018 Statement is now available to view here and will be mailed to members from the end of July through to the middle of August.  If you do not receive a copy please contact us to check the address details we hold for you.

Scheme closure

As you may be aware, following Union agreement and a consultation with its employees, BT announced the closure of Sections B and C of the Scheme to future accrual from 30 June 2018 for the majority of members.  This affects almost all of BT’s employees who were active members of the Scheme at 30 June 2018.  This is not expected to have a material impact on the funding of the Scheme.

For anyone who became a deferred member or pensioner of the Scheme before 30 June 2018, the Scheme’s closure to future accrual will have no impact on your pension or deferred pension. The terms on which your benefits are paid will not change as a result of Scheme closure.

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