BT pension deficit plummets £1.8bn despite actuary's £500m 'error'

James Phillips
clock • 2 min read

BT has slashed its pension liabilities by £1.8bn in three months through deficit recovery contributions (DRCs) and a change to the scheme's discount rate.

As of 30 June 2018, the scheme had an IAS 19 accounting deficit of £4.6bn gross of tax (or £3.9bn net of tax), down from £6.4bn (£5.3bn) as at 31 March 2018. The reduction is despite a £500m "er...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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