BT Pension Review

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BT Pensions & Pay: The CWU Guide

14 April 2018

The CWU has issued a guide to the proposed BT Pension & Pay Agreement.

The booklet summarises the proposed Agreement and should be read in conjunction with BTs information, that the company has sent to home addresses - and will be available on the BT Intranet.

The CWU booklet is being sent out to home addresses of all CWU members in BTplc and BT Fleet.

The CWU guide will also be available at: www.cwu.org/campaign/bt-pensions-and-pay/

Overall, with your support, we have secured a better deal; and BT will be paying more.

The Executive is recommending that members support the proposed Agreement.

The Agreement

  • Secures a continued defined benefit pension option as part of the new Hybrid pension for BT Pension Scheme members. The Hybrid pension will include both defined benefit and defined contribution sections.
  • Provides transitional payments for BTPS/Hybrid members for up to 10 years.
  • Improves the BT Retirement Saving Scheme 70% of BTRSS members will get a 25% rise in BT payments.
  • Ensures key allowances in the BTRSS and Hybrid are pensionable.
  • Provides a single redundancy agreement for Team Members for the first time.
  • Includes a two year pay deal worth at least 6%.