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There was a lot of speculation about BT Pension Scheme (BTPS- the defined benefit pension scheme) in the press over the weekend and Prospect is writing to clarify the position for its members.
It is important that members are fully aware of the challenges ahead and the nature of the process that will be undertaken. Much of the press coverage was sensationalised and sought to fit what facts were available into a wider pre-existing agenda.
Here are the relevant facts that members need to know:
Prospect realises that this is a very unsettling period and that the press coverage over the weekend will have been very concerning to many members. Please be reassured that as soon as there are any real developments to report you will hear these directly from Prospect and BT and not in your morning ‘paper. It is also worth emphasising that all pension already accrued is fully protected under pension legislation.
The stronger we are the better the outcome of the pension review will be – please speak to colleagues who are not members of a trade union about the importance of joining one at this time. It is easy to join Prospect online at: www.prospect.org.uk/joinus