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13/09/2024|

2024 Annual Member Newsletter

See a group of members visiting one of the Scheme’s long-term UK developments at Paradise Birmingham, along with BTPS Trustee Emily Clark and Trustee Chair Jill Mackenzie. Also check out what our members thought of the development and the Scheme’s approach to sustainable investment.

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17/06/2024| PRIMARY

BTPS Summary Funding Statement

BTPS Trustee publishes Scheme Summary Funding Statement as at 30 June 2023.

06/04/2024| PRIMARY

Annual Pension Increases for 2024/25

Updated 06 April 2024 following confirmation of the Government Review Order and 2024/25 Personal Allowance.

17/01/2024| PRIMARY

Wellbeing & Retirement Support for BTPS Members

Dr Paul Litchfield, former BT Chief Medical Officer and BTPS member, offers wellbeing guidance for members planning their retirement and for those already pensioners.

08/12/2023| PRIMARY

December pension payment date

BTPS December pensions will be paid on Friday 22 December 2023.

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.