The BT Pension Scheme (BTPS) slashed its deficit by £3.3bn in the three years between its 2017 and 2020 valuations, it announced today, remaining on track to meet a 2030 full funding target.
BT will not be able to swap the index used to uprate part of its pension scheme after the Supreme Court denied permission to appeal, closing all legal avenues.
Some 53 FTSE 100 sponsors made "significant" deficit recovery contributions (DRCs) to their defined benefit (DB) schemes over the year to 31 March 2018, according to JLT Employee Benefits.
The BT Pension Scheme (BTPS) has appointed Now Pensions founder Morten Nilsson as chief executive of its investment management and advisory arm.
Chancellor Philip Hammond has said he would be happy to hear about reforming the retail prices index (RPI) as long as the Office of National Statistics (ONS) initiates discussions.
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.