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July 13, 2010

BT looking for high court ruling on pensions

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by David Allen

The trustees for the BT Pension Scheme, which is currently supporting a £9 billion deficit, have been at the High Court trying to establish the level of commitment that the scheme would get from the government should there be a case for insolvency.

This may seem to be alarming, especially for those who have pension plans with the BT fund but, according to BT, the trustees have taken these steps in order to clarify the situation, rather than testing the water.

The case is expected to last all week, although there will be no judgement made until the autumn.

According to a BT statement, the trustees are only hoping to clarify the situation over the Crown Guarantee, in fact they have been trying to establish this for a number of years.

Story link: BT looking for high court ruling on pensions


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