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Proposed Changes to BT Pension Scheme

6 August 2008

BT are issuing information concerning the pension review that covers the BT Pension Scheme (BTPS), the BT Retirement Plan (BTRP) and the Syntegra Limited Flexible Pension Plan (SLFPP)

An article was posted on People News on 6 August 2008 giving brief details. A letter is being sent to all deferred and retired BTPS members at their home addresses from 6 august 2008.

BT is keen to highlight that the law protects benefits that have already been built up and confirm that these will not be affected by the review.

BT has set up a web site designed to provide information on the review to BT people, pensioners and people who have left the company and who will be eligible for a BT pension in the future.

Discussions between the Union and BT are continuing but nothing has been agreed. CWU policy on the review remains as agreed at Annual Conference, which is as follows:

• the outcome of the review must provide for a defined benefit pension for all those in the BTPS,
• a continued commitment from BT to ensure the BTPS is properly funded,
• and an increase in company contribution levels in the BTRP,
• any attempt to close the BTPS for future service accrual will result in an immediate ballot for industrial action,
• the CWU will hold a consultative ballot of relevant members on the outcome of the review before any changes are implemented.