CPI switch knocks £2.9bn off BT liabilities

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UK - BT will reduce its scheme liabilities by £2.9bn ($4.7bn) after the government's decision to use Consumer Prices Index to measure inflation, an actuarial review shows.

The telecommunications company said moving to CPI reduces the IAS19 accounting valuation of its scheme's liabilities by about £2.9bn. At 30 September this year BT recorded a total IAS19 deficit of ...

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