BT Pension Scheme

BT members of the Prospect union have voted to approve a controversial pension restructure ahead of the defined benefit (DB) scheme's closure in April.

The £49bn, 300,000-member BT Pension Scheme (BTPS) is to bring its administration back in-house after agreeing to end its third-party contract with Accenture three years into an eight year contract.

This week's top stories included 2020 Trustees being fined for failing to produce two chair's statements.

The Communication Workers Union (CWU) has said it will urge its members to reject BT's proposals for its pension funds, which includes closing the defined benefit (DB) scheme.

BT will launch a consultation with members over the future of its defined benefit (DB) scheme "shortly", potentially including plans to close the plan to future accrual.

BT is seeking to switch indexation for the final section of its scheme in order to stem a ballooning deficit.

BT may close its defined benefit (DB) scheme to future accrual in a bid to stem its ballooning deficit, according to reports.

BT may allow the trustees of its pension schemes to take over some of its assets in the case it fails to meets its pension obligations, the firm has suggested.

Paul Traynor says UK schemes can learn a lot from the overseas experience of scheme consolidation

The Department for Culture, Media and Sport (DCMS) has confirmed Openreach employees in the BT Pension Scheme (BTPS) will have their pensions underwritten by the government.