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BT Pensions

The CWU is committed to protecting and improving the BT occupational pensions and negotiates with BT on a range of pension issues. BT operates two pension schemes as outlined below.

The latest BT pension news on pension simplification, age discrimination, the crown guarantee, trustees, valuations and Smart Pensions is available in the members' only section of this site.

The CWU National Officer responsible for BT Pensions is Nigel Cotgrove who can be contacted on ncotgrove@cwu.org or 0208 971 7289.

BT PENSION SCHEME

The BT Pension Scheme is a final salary or defined benefit pension. It is the biggest private sector scheme in the UK with assets of £38 billion and a membership of around 350,000 in 2006.

The Scheme was closed to new members in March 2001 and is divided up into different sections depending on individual joining dates. The standard member contribution is 6% of salary.

Details of Scheme benefits can other documentation are available on www.btpensions.net

BT RETIREMENT PLAN

The BT Retirement Plan is a money purchase or defined contribution pension that was introduced from April 2001. Under the Plan BT will match member contributions between 4% and 10% of salary.

Details of Scheme benefits can other documentation are available on www.btpensions.net

PENSION ENQUIRIES

If you have any enquiries about your individual BT pension in the first instance you should contact the pension administrator, Accenture HR Services, on one of the following numbers;

BT employee 0800 731 4747

Non employee 0800 731 1919

Resident Abroad +44 (0)1908 358661

Alternatively Accenture can be contracted on the following email address: peopleline.pensions@accenture.com

If subsequently you have any problems regarding your pension, then you should then contact your local CWU Branch.

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Latest Update

BT Pensions Review 19th December 2008
BT members have given their strong endorsement to the proposed Agreement on BT Pensions. 67% of members voted to accept, with 33% voting to reject the offer. The turnout of 40% is high in the context of a postal ballot.

Andy Kerr, Deputy General Secretary, said: "Maintaining the defined benefit pension and improving the defined contribution pensions in BT have been our key objectives in these negotiations. I am pleased that our members have backed the proposed Agreement by such a large margin."

Connect members have also voted to support the Agreement in an email ballot. Their turnout was 59%, with 85% voting to accept the Agreement and 15% voting to reject.

The CWU and Connect will now jointly sign the Agreement on pensions with BT, the terms of which can still be read by logging in as a member and viewing the documents held within the links below.

The Agreement, which was concluded after negotiations at the highest levels with BT, is comprehensive and far reaching. It is designed to:

• Ensure the future sustainability of the BT Pension Scheme.
• Keep the BT Pension Scheme open for future service.
• Increase BT's contributions for Defined Contribution members.

The Agreement will make significant changes to the BT Pension Scheme. However, it is important to stress that we have secured a series of positive changes to BT's original intentions. We have also secured significant improvements to the defined contribution pension arrangements as part of this review package.

In the BTPS, we have ensured that service before April 2009 remains linked to final salary, that the retirement age rise is phased in, and that contribution rates are in future linked to income levels. For Defined Contribution members, we have improved BT's contributions and ensured that the lowest paid benefit the most.

The CWU held a consultative ballot of all members in BT which started in the week commencing 24th November and concluded on 18^th December. You can read the official ballot result documentation by clicking here: LTB 1001/08 - BT Pension Review Agreement - Ballot Result You can read the full agreement by clicking here:
LTB 866/08 - BT Pension Review: BT Documentation
LTB 867/08 - BT Pension Review: Proposed Agreement Recommended

View our webcast to hear Andy Kerr outline the issues.

Read our BTPensionReviewLetter101108.
Read our Press Release: 11th November 2008 CWU Recommends Sustainability Agreement for BT Pensions

See our Campaigns page for more information.
BT Review Site: www.btpensionsreview.net