UK - Telecom giant BT's year end preliminary results show its defined benefit pension scheme has a £1bn surplus, calculated under the new IFRS accounting standards.
However, the results showed BT's IAS 19 net pension obligation at 31 March 2007 was a deficit of £0.3bn, £1.5bn lower than the level in 2006. A spokesperson for BT said: “The pensioners knew it...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
