Government squares up to 75% of BT pension liabilities
UK - The government would be responsible for 75% of the £35bn BT pension scheme's (BTPS) current liabilities, amounting to roughly £28.5bn, in the event of the company being wound up, the firm's scheme actuary has calculated.
The scheme’s liabilities amounted to £38bn as at 31 December 2005. The firm said a guarantee given by the government, set out in section 68 of the 1984 Telecommunications Act, and amended by the 2003...
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