BT Pension Scheme

Universities Superannuation Scheme (USS) and the BT Pension Scheme (BTPS) will be asked to pick up the tab for some of the £120m penalty levied on Thames Water.

The BT Pension Scheme (BTPS) is to sell two-thirds of its interest in Hermes Fund Managers, the investment company it founded 35 years ago, to American asset manager Federated Investors for £246m.

BT and the Communication Workers Union (CWU) are said to be close to a deal over the closure of the telecoms company's defined benefit (DB) scheme.

This week's top stories included the government suggesting it may review the order of creditors in an insolvency event, and Barclays defending plans to move responsibility for its DB scheme to its investment banking arm.

BT has been barred from swapping the indexation of the third section of the BT Pension Scheme (BTPS).

BT members of the Prospect union have voted to approve a controversial pension restructure ahead of the defined benefit (DB) scheme's closure in April.

The £49bn, 300,000-member BT Pension Scheme (BTPS) is to bring its administration back in-house after agreeing to end its third-party contract with Accenture three years into an eight year contract.

This week's top stories included 2020 Trustees being fined for failing to produce two chair's statements.

The Communication Workers Union (CWU) has said it will urge its members to reject BT's proposals for its pension funds, which includes closing the defined benefit (DB) scheme.

BT will launch a consultation with members over the future of its defined benefit (DB) scheme "shortly", potentially including plans to close the plan to future accrual.