0
General

BT cuts pension fund contribution

Sunday 1 February 2015 | 10:55 CET | News
BT and the trustee of the BT Pension Scheme (BTPS), chaired by Paul Spencer, have reached a 5-year extension agreement on the 2014 triennial funding valuation and recovery plan based on a 2011 agreement. BT has also discussed details of the potential acquisition of EE with the trustee. The funding deficit was GBP 7 billion at the end of June 2014. A 16 year recovery plan has been agreed reflecting BT's long-term and sustainable cash flow generation. Over the next 3 years payments will total GBP 2 billion.

Thank you for visiting Telecompaper

We hope you've enjoyed your free articles. Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: BT / EE
Countries: United Kingdom
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Ofcom to include BT TV, mobile plans in margin squeeze test

Published 30 Jan 2015 10:41 CET | United Kingdom
UK communications regulator Ofcom confirmed that BT's planned acquisition of mobile operator EE will be taken into account in its ...

BT quarterly revenue slips 3 percent to GBP 4.48 billion

Published 30 Jan 2015 09:29 CET | United Kingdom
BT reported a revenue down 3 percent to GBP 4.48 billion in its third quarter to the end of December 2014, thanks to a good ...

BT plans share, bond issues to fund EE takeover - report

Published 18 Dec 2014 09:36 CET | United Kingdom
BT is preparing a financing package including around GBP 3 billion of bonds and GBP 2 billion of shares to help fund its GBP 12.5 ...

BT pension scheme covers longevity risk

Published 07 Jul 2014 10:47 CET | United Kingdom
The trustees of BT Group's pension scheme have taken out insurance against the costs of members living longer than expected, ...

BT reaches agreement with pension scheme trustee

Published 23 Mar 2012 10:39 CET | United Kingdom
BT has reached an agreement with the Trustee of the BT Pension Scheme on the approach to the 2011 triennial funding valuation and ...





Calendar   /   Industry Events

22 Jul NOS Q2 2019
22 Jul Logitech fiscal Q1
23 Jul Megacable Q2 2019
23 Jul Calix Q2 2019
23 Jul Iridium Q2 2019
23 Jul Snap Q2 2019
23 Jul AudioCodes Q2 2019
23 Jul Vodafone AGM
24 Jul Mellanox Technologies Q2 2019
24 Jul Netgear Q2 2019
24 Jul Telekom Slovenije Q2 2019
24 Jul Orange Poland Q2 2019
24 Jul AT&T Q2 2019
24 Jul Orange Belgium Q2 2019
24 Jul F5 Networks fiscal Q3
24 Jul Altigen Communications fiscal Q3
24 Jul Facebook Q2 2019
24 Jul Line Q2 2019
24 Jul KPN Q2 2019
24 Jul Telefonica Deutschland Q2 2019
24 Jul Technicolor H1 results
25 Jul Comcast Q2 2019
25 Jul Juniper Networks Q2 2019
25 Jul Orange Q2 2019
25 Jul Alphabet Q2 2019
25 Jul STMicroelectronics Q2 2019
25 Jul Maxlinear Q2 2019
25 Jul Telefonica Q2 2019
25 Jul Amazon Q2 2019
25 Jul Smith Micro Q2 2019
::: More Calendar Items