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.
As "tense" talks continue over the planned end of future accrual in the BT Pension Scheme (BTPS), the union is in discussions with local branches on a settlement, which could see contributions to the defined contribution (DC) replacement increased, The Telegraph reported.
An agreement could be reached by the end of next week, although BT is able to close the scheme without the support of the union or the roughly 21,000 members, and the CWU had previously described the plan as a "slap in the face".
BT plans to close the BTPS to future accrual from 1 April in a move aimed at curtailing the growth of the scheme's deficit, which was recorded at £14bn on an actuarial basis as of the 30 June 2016 interim assessment.
Around 11,000 BT managers, represented by the Prospect union, have already agreed to the proposals, which included an increase in contributions for members of the DC BT Retirement Saving Scheme (BTRSS), as well as transitional arrangements for active members moved from the DB to DC scheme.
A BT spokesperson said: "We're continuing to have productive discussions with the CWU, following our employee consultation. We've taken on board a number of their suggestions and are hopeful that an agreement can be reached that's beneficial for our employees, while bringing greater certainty on future payments."
The move is one of several measures the scheme has taken to mitigate the growth of liabilities. Towards the end of last year, the BTPS trustees asked the High Court to allow Section C of the scheme to be switched from the Retail Prices Index to the Consumer Prices Index, but in January this was blocked.
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