21/11/2023| PRIMARY
Succession of the Chair of the BT Pension Scheme Trustee
BT Group has appointed Jill Mackenzie as Trustee Chair of the BTPS, effective from 30th November 2023.
14/11/2023| PRIMARY
BT Group announces triennial pension valuation
BT Group and the BT Pension Scheme (“BTPS”) have agreed the 30 June 2023 triennial funding valuation (“2023 valuation") and how the deficit will be addressed (the “recovery plan”)
14/11/2023| PRIMARY
Publication of BTPS Annual Report and Accounts for the year to 30 June 2023
The BT Pension Scheme “BTPS” or “the Scheme” has published its Annual Report and Accounts for the year to 30 June 2023, which along with the financial statements, includes the report by the Trustee on funding and investment activities, member services and Scheme governance.
12/09/2023| PRIMARY
2023 Annual Member Newsletter
See how a group of BTPS members got on visiting Viridor’s waste-to-energy and recycling business in Avonmouth, to see first-hand the Scheme’s approach to sustainable investment.
04/09/2023| PRIMARY
Brightwell achieves PASA accreditation
The Pensions Administration Standards Association (PASA), the independent body dedicated to driving up standards in pensions administration, today announced Brightwell has achieved PASA accreditation.
The primary service provider to the BT Pension Scheme (BTPS), Brightwell has invested heavily in member services in recent years establishing a fully in-house administration function based in Chesterfield.
01/08/2023| PRIMARY
BT PENSION SCHEME COMPLETES £5bn LONGEVITY SWAP
The BT Pension Scheme (“BTPS”) or (“the Scheme”) one of the UK’s largest private sector pension schemes with c.270,000 members and £47bn of assets under management has entered into a longevity reinsurance arrangement (“the transaction”) with Reinsurance Group of America, Incorporated (“RGA”). The transaction further protects BTPS from the cost of unexpected increases in the life expectancy of its members.
12/07/2023| PRIMARY
Expats beware: protecting members from overseas scammers
At BTPS, we work hard to stop potential fraudsters stealing from you by scamming you out of your hard-earned pension. These con artists change their tactics all the time. A current trend involves targeting expat members of defined benefit pension schemes, to try and convince them to transfer their pension benefits out into new ‘investment opportunities’.
19/06/2023| PRIMARY
BT Pension Scheme – a major investor in the UK
The Daily Telegraph today reported that the BT Pension Scheme has reduced its exposure to UK equities over the past 12 months. Wyn Francis, Chief Investment Officer, Brightwell which manages the BT Pension Scheme, explains the facts behind the headline.
15/05/2023| PRIMARY
Succession of the Chair of the BT Pension Scheme Trustee
BT Group announces changes to the composition of the BT Pension Scheme (BTPS) Trustee Board and the orderly succession of the Trustee Chair.
28/04/2023| PRIMARY
BTPS Summary Funding Statement
BTPS has published its latest Summary Funding Statement, which provides an update on the financial health of the Scheme. It is based on an interim assessment as at 30 June 2022.
03/04/2023| PRIMARY
BT PENSION SCHEME MANAGEMENT LTD LAUNCHES AS BRIGHTWELL
BTPS‘s primary service provider, BT Pension Scheme Management Limited (BTPSM), has launched its new trading name; Brightwell.
31/03/2023| PRIMARY
2023 Budget - Pension Tax Changes
Key pension changes from the 2023 Budget
08/03/2023| PRIMARY
Annual Pension Increases for 2023/24
The pension increases to BTPS members' pensions in payment, that are expected to apply from 1 April 2023, are now published. Increases apply to increasing pensions in excess of any Guaranteed Minimum Pension (GMP).
17/02/2023| PRIMARY
BTPS named as continued signatory to the UK stewardship code
Earlier this week, The Financial Reporting Council (FRC) published a list of successful signatories to the UK Stewardship Code (“the Code”). The Code sets high standards of stewardship for those investing money on behalf of UK savers and pensioners, and applies to asset owners, like BTPS, asset managers, and service providers.
07/02/2023| PRIMARY
ASCOR Consultation to Assess Sovereign Debt Issuers on Climate Change
Assessing Sovereign Climate-Related Opportunities and Risks (ASCOR) is the first, public investor framework to assess sovereign bond issuers on climate change
19/10/2022| PRIMARY
Current market conditions – an update from the Trustee
The investment market for UK government bonds, also known as gilts, has experienced considerable volatility in the last few weeks. In light of this, we want to let you know that your pension is not impacted.
19/10/2022| PRIMARY
BTPS Annual Report & Accounts to 30 June 2022
BTPS has published its Report and Accounts for the year to 30 June 2022, which along with the financial statements, includes the Report by the Trustee on funding and investment activities, member services, and governance matters for the year. Our report on climate change, TCFD disclosures and Stewardship Code response are also included as an appendix to the Report and Accounts.
21/09/2022| PRIMARY
2022 Annual Member Newsletter
Read how a group of BTPS members got on visiting the King’s Cross Estate to see first hand the Scheme’s approach to sustainable investment.
20/09/2022| PRIMARY
RPI Judicial Review update
Statement from Trustees of the BT Pension Scheme, Ford Pension Schemes and Marks and Spencer Pension Scheme
01/09/2022| PRIMARY
Statement from Trustees of the BT Pension Scheme
Statement from Trustees of the BT Pension Scheme, Ford Pension Schemes and Marks and Spencer Pension Scheme
04/07/2022| PRIMARY
BTPS targets at least 25% carbon reduction by 2025
The BT Pension Scheme (BTPS or “the Scheme”) today announced its five-year targets to reduce the scope 1 and 2 carbon intensity of its equity and credit portfolio by at least 25% and real estate by at least 33% by 2025.
14/06/2022| PRIMARY
ASCOR Project Publishes 12 Month Progress Update
Today the ASCOR – Assessing Sovereign Climate-related Opportunities and Risks - Project published a 12-month progress update.
19/05/2022| PRIMARY
BTPS Summary Funding Statement
BTPS has published its latest Summary Funding Statement, which provides an update on the financial health of the Scheme. It is based on an interim assessment as at 30 June 2021.
08/04/2022| PRIMARY
BTPS Award Winners
BTPS was crowned Defined Benefit (DB) Scheme of the Year at the Pensions Age awards, seeing off strong competition.
23/03/2022| PRIMARY
Annual Pension Increases for 2022/23
The pension increases to BTPS members' pensions in payment, that will apply from 1 April 2022, are now published. Increases apply to increasing pensions in excess of any Guaranteed Minimum Pension (GMP)
15/03/2022| PRIMARY
BTPSM signs Asset Owner Diversity Charter
BT Pension Scheme Management (BTPSM) has today announced that it has signed-up to the Asset Owner Diversity Charter.
07/02/2022| PRIMARY
BTPSM Enhances Research and Stewardship Capabilities
BT Pension Scheme Management (BTPSM) has appointed Terence Nahar as Head of Investment Research and Emma Douglas as Senior Stewardship Analyst in two newly created roles within the funding and fiduciary services team.
22/12/2021| PRIMARY
Statement from Trustees of the BT Pension Scheme
Statement from Trustees of the BT Pension Scheme, Ford Pension Schemes and Marks and Spencer Pension Scheme
16/12/2021| PRIMARY
In conversation with Richard Curtis
Film writer Richard Curtis joins us to discuss climate change and the power of pensions
06/12/2021| PRIMARY
Watch highlights from the BTPS annual conference
On 4 November, we held our annual conference for representatives from the National Federation of Occupational Pensioners (NFOP) and BT's Unions; CWU and Prospect.
28/10/2021| PRIMARY
78,000 Members Register For New Member Portal
Just four months after launching its new online member portal, 78,000 of BT Pension Scheme’s (BTPS) c.275,000 members have registered to manage their pension digitally.
01/10/2021| PRIMARY
BTPS Annual Report & Accounts to 30 June 2021
BTPS has published its Report and Accounts for the year to 30 June 2021, which along with the financial statements, includes the Report by the Trustee on funding and investment activities, member services, and governance matters for the year. Our report on climate change and TCFD disclosures are also included as an appendix to the Report and Accounts.
17/09/2021| PRIMARY
Announcing the Advisory Group for ASCOR Project
Aktia Bank, Amundi, Colchester Global Investors, Franklin Templeton, MFS Investment Management, Ninety One and Wells Fargo Asset Management join the ASCOR Project Advisory Committee representing over US $5 trillion. SURA Asset Management, Latin America’s largest pension fund provider joins the ASCOR Project Steering Committee.
14/09/2021| PRIMARY
2021 Annual Member Newsletter
Our annual Member Newsletter is now live on the website and is being mailed to our members throughout September. We’ve covered lots of important information so make sure you keep an eye out for your copy!
13/09/2021| PRIMARY
Summary Funding Statement 2020
BTPS Trustee publishes Scheme Summary Funding Statement as at 30 June 2020.
01/07/2021| PRIMARY
BTPS publishes Responsible Investment and Stewardship Report
The BT Pension Scheme (BTPS) has published its first Responsible Investment and Stewardship Report.
14/05/2021| PRIMARY
Investors to develop new tool to assess Governments’ climate change governance and performance
Institutional investors, in collaboration with key investor networks, have spearheaded a project to create a new assessment framework enabling investors to fairly and appropriately measure, monitor and compare sovereigns’ current and future climate change governance and performance.
13/05/2021| PRIMARY
BT and Trustee announce agreement on the 2020 Valuation
Every three years, a formal valuation of the pension scheme is carried out. This is referred to as the ‘triennial valuation’ and is undertaken to ascertain the funding position of the Scheme and, to the extent the Scheme is in deficit, agree the level of contributions payable by BT in order to restore the funding position.
09/04/2021| PRIMARY
Trustees of the BT Pension Scheme, Ford Pension Schemes and Marks and Spencer Pension Scheme to seek Judicial Review of the decision effectively to replace RPI with CPIH from 2030
The trustees of the BT Pension Scheme, Ford Pension Schemes and Marks and Spencer Pension Scheme (“the Schemes”) today announced that they are seeking a judicial review of the decision effectively to replace RPI with CPIH from 2030.
23/02/2021| PRIMARY
Statement from Trustees of the BT Pension Scheme, Ford Pension Schemes and Marks and Spencer Pension Scheme
The Trustees of the BT Pension Scheme, Ford Pension Schemes and Marks and Spencer Pension Scheme have today announced that following their joint application the court has granted an extension of time in which to consider a potential application for a judicial review of the decision to align RPI with CPIH from 2030.
06/01/2021| PRIMARY
New online services are coming soon
Following members’ feedback, we have been investing in technology and modernising our online services. The new website and member portal will be going live later this spring (exact dates available soon) and everything will be moving across to a new web address: btps.co.uk.
06/01/2021| PRIMARY
BTPSM appoints Wyn Francis as Chief Investment Officer
BT Pension Scheme Management (‘BTPSM’) has announced, with immediate effect, the appointment of Wyn Francis as Chief Investment Officer. Wyn succeeds Frank Naylor who is retiring on 30 June after 16 years. Frank will remain with BTPSM working towards completing a range of key projects before his retirement.
01/01/2021| PRIMARY
Court of appeal - Judicial Review update
In November last year, BT brought proceedings in the High Court challenging the validity of a decision taken by HM Treasury (HMT) about how benefits are increased in public sector pension schemes.
01/12/2020| PRIMARY
GMP Court ruling update
You may be aware that the Trustees have been in discussions with their advisers as to the steps the Scheme should take with regards to the “equalisation” of certain pension benefits.
30/11/2020| PRIMARY
Reforming the Retail Prices Index – changes from 2030
Every month, the Office for National Statistics (ONS) estimates the inflation rate in the UK by calculating the change in prices of a representative basket of goods and services.
07/10/2020| PRIMARY
BT Pension Scheme sets 2035 net zero goal for its entire £55bn portfolio
Over the next fifteen years, the majority of the Scheme’s assets will be reinvested creating a unique opportunity to invest in companies that have lower emissions and increase investment in transition solutions
17/09/2020| PRIMARY
BTPS appoints Chris Cheetham as Trustee Director
The BT Pension Scheme (‘BTPS’ or the ‘Scheme’) has announced, with immediate effect, the appointment of Chris Cheetham as Trustee Director. He succeeds David Felder who is stepping down from the Board after nine years’ service.
10/09/2020| PRIMARY
2020 Annual Member Newsletter
Our annual Member Newsletter is now live on the website and is being mailed to our members throughout September. We’ve covered lots of important information so make sure you keep an eye out for your copy!
30/03/2020| PRIMARY
BT Pension Scheme appoints three new Trustees
The BT Pension Scheme (BTPS or the Scheme) has announced three new appointments to its Trustee Board.
20/03/2020| PRIMARY
Coronavirus update for members
As the impact of the coronavirus is felt across the UK, we want to reassure members that looking after their pension is our top priority.
01/12/2019| PRIMARY
BT Pension Scheme Management acquires pensions software firm Procentia
BT Pension Scheme Management (BTPSM), the executive arm of the UK’s largest private sector pension scheme, has today announced that it has acquired a majority stake in Procentia, a market-leading pensions software company for an undisclosed sum.