BT Pension Scheme

Madeinireland

Hi Robin61 - I'm hoping you are still posting on here or have you finally left BT behind?. I left nearly a couple of years ago now and am finally starting the ball rolling on taking my pension.


We had a discussion a while back and as part of that I believe you contacted the pension centre on a specific clause that enabled a section B member to convert their pre care pension lump sum to additional pension and then take the remainder out tax free. This is not one of the options they give you on retirement. Do you have anything from them in writing that confirms we can do this as I seem to be running into difficulties both explaining it and actually getting them to do it.

I will attempt to PM you as well as I appear to have lost all my PM's from the past with you.

Thanks...

Browntoa

I don't remember it being a recent option.

They closed several options a while back , drawing your pension after 40 years but continuing working for example.

DK68

The Loss of Employment TIE to Closed pensions is now leading to mass transfer out awareness as predicted !

Maybe this is the start of the Peasants revolt as Govt stands by and watches Corporations open up huge Pension Deficits and then add all sorts of closure Engineering negative aspects.

Pure loss of moral and ethical compass.

C Scheme are worth far more than others (relatively) with RPI in the Transfer Value so find out all your options and get an IFA should the option be triggered.

Transfer out Option defeats the Offset Exploitation , the Loss of Employment and the loss of the replacement BTRSS Pension. THE VALUES ROSE 25% by Match 2019. No explanation as to why has been given.

They started this - Let Members finish it with all the options known. Lets take back control.

DWP must now allow full acces to Closed Pensions from the age specified in the Pension Rules.
HMRC must stand down the PTM rules for age 50 -54 so that other COMPANIES do not attempt to intercept tax revenues by exploiting the PTM and self funded Redundancies via Pension Closures MUST BE HALTED.

AGE 55 should not be asked for leaving dates when accessing a Closed Pension, when many have families and mortgages. The relationship in Deferment is two way (Member and Scheme) NOT three way . This is the NEW EXECUTIVE Class that have to be fully exposed for just how low they are willing to crawl these days.

Madeinireland

I’m not referring to the list of BT presented options. I’m referring to the conversion of lump sum to additional pension which is allowed as per the scheme B rules. I’m nort sure that BT can withdraw it as an option if it’s part of the deed rules that a section B member can do this.

Thanks...

Madeinireland

Robin - I appear to be barred from sending PM’s for some reason so if you see this perhaps you could send me a PM.

Thanks...

skycatcher

Madeinireland wrote: »

I’m not referring to the list of BT presented options. I’m referring to the conversion of lump sum to additional pension which is allowed as per the scheme B rules. I’m nort sure that BT can withdraw it as an option if it’s part of the deed rules that a section B member can do this.

Thanks...

A few months ago I asked them what the reverse commutation (I think that is the right term) rate was. They sent me a letter saying they couldn't tell me the rate but if I wrote to them with a specific request for my actual pension they would provide a quotation. I didn't follow it up as I have changed my mind am now likely to go for the max TFLS in 6 months time.