Here you will find all the latest pension updates

BT Pension Review – Reject all the Proposals

BT launched a formal 60 day consultation on proposed changes to the company pension scheme on 15th November 2017.   The CWU has not reached agreement on any of the proposals.   BT’s proposals could radically change pension provision across the company with both the BTPS and BTRSS members affected by different proposals, which the union believes fail to provide decent pension provision in retirement, the CWU are urging members to firmly say no to all of BT’s proposals for both schemes.   

 The proposals are :

BT Pension Scheme

  • Proposal 1: Close Sections B and C of the BTPS for team members from 1st April 2018 and use the BTRSS for future service. Transitional additional contributions would be paid by BT into the BTRSS for up to 10 years.

OR

  • Proposal 2: Team Members to continue membership Sections B and C of the BTPS after 31 March 2018 on a significantly amended basis. In particular, benefits would build up more slowly in the future and member contributions would increase.

In a separate consultation BT is proposing that Proposal 1 should apply to all Section B/C members of the scheme who are managers and those covered by the New Reward Framework

BT Retirement Saving Scheme

  • A 1% increase in BT’s contributions at all levels; make London Weighting pensionable; make changes to death in service benefits.

Tell BT No

Our response is clear. None of the proposals for either pension are acceptable.

All options for both pension schemes should be rejected.

You deserve better – BT can afford more. 

BT must not make changes to either pension without agreement with the CWU.

More details are contained in the attached leaflet which is being sent to all members at their home address this week. Please make sure that the leaflet is circulated as widely as possible.

Secure Your Future

This is a crucial time for members’ pensions and retirement plans.

All CWU members are urged to respond to the BT consultation directly saying that you reject all the BT proposals for your pension and that you want BT to reach a negotiated agreement with the CWU.

Send your response to BT at the following email address bt.consultation@wealthatwork.co.uk and copy in the CWU at btpensions@cwu.org. The closing date for responses is 17th January 2018.

BT Pensions Bulletin #1

BT Pensions review A5

BT Pensions Proposals posters x 2

LTB 639/17 – WhatsApp Broadcasts on BT Pensions Campaign

No. 639/2017

Ref: AK/ML

Date: 22 November 2017

TO ALL BRANCHES WITH MEMBERS IN BT

Dear Colleague

WhatsApp Broadcasts on BT Pensions Campaign

We have launched WhatsApp Broadcast lists for CWU representatives and members. This will enable us to communicate key messages on the BT Pensions campaign as quickly and directly as possible.

There are two separate lists – one for CWU representatives and one for CWU members.

If you would like to be added to the broadcast, please follow the simple instructions below.

If you are a CWU representative: Add WhatsApp to your phone. Save 07583725644 in your contacts. Text your name, workplace (if you have one), position and CWU Branch to 07583725644.

If you are a CWU member: Add WhatsApp to your phone. Save 07907502190 to your contacts. Text your name, workplace (if you have one) and CWU Branch to 07907502190.

Please do not send your details to both numbers. Members should use their own personal phones to sign up to this service and not one owned by the employer.

Please share this information with as many of your members as possible.

Any enquiries on the content of this LTB should be directed to Nicola Marshall at nmarshall@cwu.org

LTB 616/17 – BT Pension Review – Reject all the Proposals

 

Dear Colleague,

BT Pension Review – Reject all the Proposals

BT is commencing the formal 60 day consultation on proposed changes to the company pension schemes tomorrow. The Company has just issued details of the proposed changes for both the BT Pension Scheme (BTPS) and the BT Retirement Saving Scheme (BTRSS) which may be implemented in April 2018.

The CWU has not agreed to any of the proposals. 

BT’s proposals will be sent to home addresses this week and members should read the details carefully. In summary BT is proposing the following.

BT Pension Scheme  

  • Proposal 1: Close Sections B and C of the BTPS for team members from 1st April 2018 and use the BTRSS for future service. Transitional additional contributions would be paid by BT into the BTRSS for up to 10 years.

OR

  • Proposal 2: Team Members to continue membership Sections B and C of the BTPS after 31 March 2018 on a significantly amended basis. In particular, benefits would build up more slowly in the future and member contributions would increase.

In a separate consultation BT is proposing that Proposal 1 should apply to all Section B/C managers and those covered by the New Reward Framework.

BT Retirement Saving Scheme

  • A 1% increase in BT’s contributions at all levels; make London Weighting pensionable; make changes to death in service benefits.

Tell BT No

Our response is clear. None of the proposals for either pension are acceptable.

All options for both pension schemes should be rejected.

You deserve better – BT can afford more. 

BT must not make changes to either pension without agreement with the CWU.

More details are contained in the attached leaflet which is being sent to all members at their home address this week. Please make sure that the leaflet is circulated as widely as possible.

Secure Your Future

This is a crucial time for members’ pensions and retirement plans.

All CWU members are urged to respond to the BT consultation directly saying that you reject all the BT proposals for your pension and that you want BT to reach a negotiated agreement with the CWU.

Send your response to BT at the following email address bt.consultation@wealthatwork.co.uk and copy in the CWU at btpensions@cwu.org. The closing date for responses is 17th January 2018.

Your local CWU Branch will have contacted you asking for details of which pension you are in. We need this information to help us represent you in the coming months. Please make sure you reply.

Shortly we will also be asking you to respond to a national CWU survey.  Please also reply to the survey.

We will also be holding members’ meetings around the UK in the coming weeks. Please contact your CWU Branch for details.

We will continue to keep members advised of developments and will consult members on the outcome of negotiations.

More information is available from local CWU Branches and at www.cwu.org/campaign/bt-pensions

Please note that the CWU is unable to give financial advice.

Below is the link for the information sheet on the BTRSS from the CWU

cwu-777-0550517-BTRSS-bulletin-v4

Below is the link for the Facebook Q&A

https://m.facebook.com/story.php?story_fbid=1604057526340387&id=981299138616232&_rdr

 

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