BT

The closure of the BT Pension Scheme (BTPS) to future accrual means 20,000 active members will move to an 'enhanced' defined contribution (DC) scheme, after the company reached a deal with the union.

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.

A number of pension issues will be battled out in the courts over the course of this year. James Phillips rounds up the cases to watch out for and the potential consequences for the industry

This week's top stories include The Pensions Regulator fining a Now Pensions trustee £70,000, and BT appealing a court ruling over its RPI to CPI indexation swap.

Scottish Widows has reinsured the longevity risk for around £1.3bn of its bulk annuity liabilities with The Prudential Insurance Company of America (PICA).

BT will appeal last month's High Court ruling which barred it from swapping the inflation indexation used for one section of the BT Pension Scheme (BTPS).

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).

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.

Henry Tapper says as the initial euphoria of 'never having to buy an annuity again' wears off, the prospect of freedoms becomes less appealing