BT loses second bid at indexation swap

James Phillips
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The scheme has been denied permission twice this year
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The scheme has been denied permission twice this year

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).

In a judgment handed down today (4 December), the Court of Appeal concurred with a High Court decision, given in January this year, that RPI had not become an inappropriate measure of inflation. The...

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