BTPS agrees 2023 triennial pension valuation and reveals drop in deficit

£37bn BT scheme says it is ‘on track’ to be fully funded by 2030 despite sharp asset fall

Jonathan Stapleton
clock • 3 min read
BTPS has revealed strong funding levels and a drop in its deficit in its triennial valuation
Image:

BTPS has revealed strong funding levels and a drop in its deficit in its triennial valuation

The £37bn BT Pension Scheme (BTPS) has agreed its 2023 triennial funding valuation with BT Group – revealing a £4.28bn fall in its deficit.

The scheme said its valuation at 30 June 2023 was £3.70bn - down from £7.98bn at the 2020 funding valuation following £4.36bn of deficit contributions. This comes despite a sharp fall in scheme ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

Jonathan Stapleton
Author spotlight

Jonathan Stapleton

View profile
More from Jonathan Stapleton

Finning Pension Scheme completes £250m buy-in with Standard Life

Benefex and Benify come together under single brand

More on Defined Benefit

Professional Pensions' DB Funding Index
Defined Benefit

Professional Pensions' DB Funding Index

How the funding of defined benefit pension schemes is changing

Jonathan Stapleton
Jonathan Stapleton
clock 11 February 2025 • 1 min read
Combined IAS19 surplus of FTSE 100 companies rises to £70bn in January
Defined Benefit

Combined IAS19 surplus of FTSE 100 companies rises to £70bn in January

LCP Pensions Explorer measured £5bn increase in FTSE 100 surplus since last month

Jasmine Urquhart
Jasmine Urquhart
clock 07 February 2025 • 1 min read
Tender Watch: Charities Pensions Club appoints First Actuarial
Defined Benefit

Tender Watch: Charities Pensions Club appoints First Actuarial

First Actuarial to become organisation’s actuarial partner

Professional Pensions
Professional Pensions
clock 07 February 2025 • 1 min read
Trustpilot