11BOB032 t231a BT HP Helpdesk

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• Rejoining the BT Pension Scheme
In the event of any inconsistency between this presentation and the formal Trust
Deed and Rules of the BT Pension Scheme, the Trust Deed and Rules will prevail.
• Although the BT Pension Scheme [BTPS]
is closed to new entrants some former
members of Sections A or B who are
transferred to BT under TUPE may be
able to rejoin Section B following their
reemployment by BT.
Those eligible to rejoin:left the BTPS before 1 December 2006 and
have a deferred pension in the BTPS or
have a pension in payment from the BTPS.
• Those eligible to rejoin:• will become members automatically on the
first day of re-employment by BT
• will have contributions deducted from their
first month’s pay
• will pay contributions via SMART Pensions.
• Contributions for Section B members are:• 7% of pensionable salary if they earn below
the Contribution Earnings Threshold [CET]
• 8.5% of pensionable salary if they earn more
than the Contribution Earnings Threshold
• the CET is currently £46,425 p.a.
• Life cover will be provided at the rate of
4 times pensionable salary.
• For the first three months of membership,
those who rejoin the BTPS will have the
option of leaving the BT Pension Scheme and
joining the BT Retirement Saving Scheme
[BTRSS] instead.
• On joining the BTRSS:• Contributions made to the BTPS [including
BT’s contributions] will be transferred to the
• Member contributions to the BTRSS will
default to 7% or 8.5% but may subsequently
be reduced to 5% or 6% by the member
• Life cover will be provided at the rate of
4 times pensionable salary
• The member’s accumulated BTRSS fund
will be paid to his dependants on death
in service.
• At the end of the first three months:• The option to switch schemes will lapse
• Members who have remained in the BTPS
will be provided with their aggregation
• It is not possible to aggregate a pension that
is already in payment.
• If you decide to aggregate, you will be
required to permanently give up your
deferred pension from your previous period
of membership in exchange for a pensionable
service credit that will be added to the actual
period of membership you complete after
you rejoin Section B.
• The pensionable service credit will be
treated in all respects as pensionable
service completed after you rejoined
Section B and the benefits you get will
be based on the benefit structure that
has applied to membership of the
BT Pension Scheme since 1 April 2009.
• In particular, you will have a normal pension
age of 65 in respect of all your benefits, and
your benefits will be calculated on a career
average revalued earnings [CARE] basis.
• Once you have aggregated your periods of
membership, it will not be possible to reverse
that decision.
• Information about the BTPS can be found on
the BTPS Trustee website at:www.btpensions.net
• Information about the BTRSS can be found on
the BTRSS website at:• www.btretirementsavingscheme.com
• Joe Sarfas FPMI
Pensions Policy Manager
[email protected]
Office phone number 01962 885791
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