BT scheme deficit hits £7.3bn

The BT Group pension scheme's deficit hit £7.3bn gross of tax after an increase in market inflation expectations.

The group reported that as of 31 December 2013, the deficit had grown from £6.7bn at 30 September 2013 on an IAS19 basis. This comes after the scheme saw its deficit double over the year to 31 March...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions member?

Login

More on Legislation

100 years in the making: A history of pensions tax relief

100 years in the making: A history of pensions tax relief

Policy has evolved substantially since the Finance Act 1921, says Jane Marshall

Jane Marshall
clock 11 October 2021 • 6 min read
Can pension freedoms policy learn from Gwyneth Paltrow?

Can pension freedoms policy learn from Gwyneth Paltrow?

Sir Steve Webb says savers need to ‘de-couple’ taking tax-free cash from a decision about the rest of their pension pot

Sir Steve Webb
clock 08 July 2021 • 3 min read
AE success needs net-pay resolution

AE success needs net-pay resolution

Baroness Ros Altmann argues that net-pay schemes do not offer value for money for lower paid workers

Baroness Ros Altmann
clock 10 June 2021 • 3 min read