The BT Pension Scheme (“BTPS” or “the Scheme”) has published its Annual Report and Accounts for the year to 30 June 2026. Alongside the financial statements, the report includes an update from the Trustee on the Scheme’s governance, funding and investment activities, and member services. The full document can be accessed here

Key figures as at 30 June 2026

• The Scheme’s net assets were £32.2 billion.
• The Scheme had 248,771 members, including 213,475 pensioner members.
• £2.8 billion in benefits paid during the year.
• Overall member satisfaction increased to 87.3, up by 0.8 from 2025 and significantly above industry benchmarks.
• Nearly two thirds (65%) of the Scheme’s portfolio is invested in the UK across government and corporate debt, infrastructure, property and private equity.

The Trustee Board is progressing the 2026 triennial valuation with BT Group. An update on the Scheme’s funding position will be provided once the valuation has been agreed. 

Jill Mackenzie, Trustee Chair, BTPS said: “While uncertainty is likely to remain a defining feature of the external environment, the Scheme’s robust governance and rigorous approach has enabled us to retain our focus on delivering long-term objectives.

Maintaining high-quality member services remains a priority and the Scheme measures member satisfaction on an ongoing basis across multiple touchpoints to check how we are doing and identify areas for improvement.

This year’s annual survey was particularly strong reflecting our continued investment in people, communications and digital capabilities. ”