BT Pension Scheme

Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).

BT has lost a Court of Appeal attempt to swap one section of its defined benefit (DB) pension schemes from the Retail Prices Index (RPI) to the Consumer Prices Index (CPI).

The BT Pension Scheme (BTPS) has appointed Now Pensions founder Morten Nilsson as chief executive of its investment management and advisory arm.

BT has slashed its pension liabilities by £1.8bn in three months through deficit recovery contributions (DRCs) and a change to the scheme's discount rate.

US-based Federated Investors has completed its acquisition of a 60% interest in Hermes Investment Management from the BT Pension Scheme (BTPS).

Universities Superannuation Scheme (USS) and the BT Pension Scheme (BTPS) will be asked to pick up the tab for some of the £120m penalty levied on Thames Water.

The BT Pension Scheme (BTPS) is to sell two-thirds of its interest in Hermes Fund Managers, the investment company it founded 35 years ago, to American asset manager Federated Investors for £246m.

BT and the Communication Workers Union (CWU) are said to be close to a deal over the closure of the telecoms company's defined benefit (DB) scheme.

This week's top stories included the government suggesting it may review the order of creditors in an insolvency event, and Barclays defending plans to move responsibility for its DB scheme to its investment banking arm.

BT has been barred from swapping the indexation of the third section of the BT Pension Scheme (BTPS).