BT cuts dividend and 15,000 jobs; BT could face £11bn pension fund deficit; Pension tax change under fire
BT cuts dividend and 15,000 jobs Financial Times BT is to axe 15,000 jobs, more than expected, and cut its final dividend by nearly 60 per cent - the first reduction in seven years - after an "unacceptable"...
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.