Employment News

BT Retirement Plan: Pay and Pension Protection - Incorrect Contributions

25 January 2008

The Pay and Pension Protection Agreement has been implemented incorrectly for members in the BT Retirement Plan (BTRP).

Members in the BTRP moving on to Pay and Pension Protection (P&PP) have been advised by Accenture that the P&PP Supplement is not pensionable therefore they need to make an adjustment to their contribution levels to ensure their overall contributions remain unchanged.

BT has accepted that this is outside the terms of the P&PP Agreement and that the total contribution levels paid by members should not change as a result of payment of the Supplement. Contributions should be automatically paid on the Supplement at the same level as before the move to P&PP, and there should be no need for any individual adjustment to contribution levels.

There is a plan to rectify the situation is that will involve changing standard letters and systems in AHRS and Xansa.

The Union will be reviewing with BT all cases of BTRP members who have moved onto P&PP to assess whether anyone has been disadvantaged.

Members who receive correspondence suggesting they need to alter their contributions in these circumstances are advised to contact Kerry Shiels directly at BT Pension Policy on kerry.shiels@bt.com