In February 2022, BTPS was crowned Defined Benefit (DB) Scheme of the Year at the Pensions Age awards, seeing off strong competition from Atkins Pension Plan, British Airways Pensions, Essex Pension Fund, Greater Manchester Pension Fund, North East Scotland Pension Fund, Port of Dover, Scottish Borders Council Pension Fund and West Yorkshire Pension Fund.

According to the judges, BTPS stood out for “its strong environmental, social and governance (ESG) focus and member satisfaction and truly set the bar high in the DB arena.”

The judges also felt that the Scheme “had risen to the investment and regulatory challenges facing the DB pension space, serving as an inspiration to other schemes in the pensions marketplace.”

In December 2021, BTPS also took home the UK Country Award at the Investments & Pensions Europe (IPE) Awards.

The IPE judges recognised BTPS as “a top UK fund not just in size but in innovation, such as the vehicle to deal with trapped surplus, while its ambition to be net zero by 2035 is well ahead of the industry."

Commenting on the awards, Otto Thoresen, Chair, BTPS said: “At BTPS we set high standards. Everything we do is with members in mind and it’s great to receive this recognition of the huge steps we’ve taken on ESG and the improvements made to member satisfaction.”

Morten Nilsson, BTPSM CEO said: “These awards are testament to the hard work of the entire team and reflect the significant investments we’ve made in people, processes and technology. I couldn’t be prouder.”

You can read more about why the Pensions Age Awards judges voted BTPS as DB Scheme of the Year in the April 2022 edition of Pensions Age Magazine (pages 76 & 77)