BTPS agrees 2023 triennial pension valuation and reveals drop in deficit

£37bn BT scheme says it is ‘on track’ to be fully funded by 2030 despite sharp asset fall

Jonathan Stapleton
clock • 3 min read
BTPS has revealed strong funding levels and a drop in its deficit in its triennial valuation
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BTPS has revealed strong funding levels and a drop in its deficit in its triennial valuation

The £37bn BT Pension Scheme (BTPS) has agreed its 2023 triennial funding valuation with BT Group – revealing a £4.28bn fall in its deficit.

The scheme said its valuation at 30 June 2023 was £3.70bn - down from £7.98bn at the 2020 funding valuation following £4.36bn of deficit contributions. This comes despite a sharp fall in scheme ...

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