UK - Telecoms giant BT has committed to funding £2.8bn over the next 10 years to its defined benefit pension scheme (BTPS), after seeing its deficit surge to £3.4bn under the new, "more conservative" actuarial methodology.
Under the terms of the agreement reached at the triennial funding valuation of the fund, BT will pay £500m up front and a further £340m before April 2007. It will then make annual payments of £280m...
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