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    • jennyjj
    • By jennyjj 22nd Aug 17, 4:44 PM
    • 311Posts
    • 399Thanks
    jennyjj
    BT Pension Scheme Review: Help please.
    • #1
    • 22nd Aug 17, 4:44 PM
    BT Pension Scheme Review: Help please. 22nd Aug 17 at 4:44 PM
    Hi,

    I'm reaching out to currently active members of the BTPS for information about the review.

    I'm a deferred member and only see what little appears in the press about the upcoming review.

    However, I've had sight of an email from the head of HR, Alison Wilcox, which she sent
    To "All active members of the BTPS"
    From "Alison Wilcox, group HR director"
    Status: "For information Pensions review update"

    In that email she links away to lots of lovely explanatory documents and videos. But those links were all on BT's internal network, or at least the snipped addresses were. So, even with the email, I'm none the wiser.

    Assuming that we deferred members MIGHT be impacted by changes following the review, I ask, can any person with access to those docs, provide externally available copies, or maybe give us some insight into the contents.

    I have emailed Alison, requesting the same.
    Don't breech BT security or data confidentiality rules, of course.

    JJ
Page 6
    • jennyjj
    • By jennyjj 5th Jul 18, 5:09 PM
    • 311 Posts
    • 399 Thanks
    jennyjj
    I'm sure the actuaries must have a spreadsheet to model all the options and the impact of inflation... Pity we don't have access! Why should it be a secret... It's our pension and do we not employ them via the trustees?
    Originally posted by skycatcher
    Good point. They probably fear that we will game the system by going on diets, joining a gym and looking both ways when crossing the road.
    • skycatcher
    • By skycatcher 5th Jul 18, 5:12 PM
    • 25 Posts
    • 5 Thanks
    skycatcher
    Good point. They probably fear that we will game the system by going on diets, joining a gym and looking both ways when crossing the road.
    Originally posted by jennyjj
    Not on my watch
    • jennyjj
    • By jennyjj 5th Jul 18, 5:30 PM
    • 311 Posts
    • 399 Thanks
    jennyjj
    I'm coming around to taking the higher starting pension in return for a semi index linked option. ...
    I'm thinking that this is a good way of smoothing out the amount of revenue I have in retirement. I think I'd like a bit more when I'm younger.
    Originally posted by robin61
    Well, after much humming and harr-ing, I've opted to take it 1 year before 60th at standard terms (TFLS=3 x pension). The Actuarial reduction hit was 4.2%

    I guess I have the rest of my life to regret the decision.

    Now.... what to do with that juicy TFLS?
    • skycatcher
    • By skycatcher 5th Jul 18, 5:44 PM
    • 25 Posts
    • 5 Thanks
    skycatcher
    Well, after much humming and harr-ing, I've opted to take it 1 year before 60th at standard terms (TFLS=3 x pension). The Actuarial reduction hit was 4.2%

    I guess I have the rest of my life to regret the decision.

    Now.... what to do with that juicy TFLS?
    Originally posted by jennyjj
    Congratulations.... You've done the hardest bit... Make the decision... I dint think there is a wrong or right one... Enjoy the fruits of your labour for a very very long time
    • robin61
    • By robin61 5th Jul 18, 5:49 PM
    • 657 Posts
    • 481 Thanks
    robin61
    Well, after much humming and harr-ing, I've opted to take it 1 year before 60th at standard terms (TFLS=3 x pension). The Actuarial reduction hit was 4.2%

    I guess I have the rest of my life to regret the decision.

    Now.... what to do with that juicy TFLS?
    Originally posted by jennyjj
    Congrats. I doubt you will have any regrets. You've done what you were most comfortable with and really there aren't any bad options.
    • robin61
    • By robin61 5th Jul 18, 5:57 PM
    • 657 Posts
    • 481 Thanks
    robin61
    I'm sure the actuaries must have a spreadsheet to model all the options and the impact of inflation... Pity we don't have access! Why should it be a secret... It's our pension and do we not employ them via the trustees?
    Originally posted by skycatcher
    I would bet that on average it's probably better for them if people take the semi index linked option and/or take a larger lump sum.
    But then there are individual things that need to be taken into account such as other income you may be getting in the future and whether you want more money when you are younger or older.
    I guess it's nice to have these choices but they are not easy to make. I have changed my way of thinking a couple of times already.
    • skycatcher
    • By skycatcher 5th Jul 18, 6:24 PM
    • 25 Posts
    • 5 Thanks
    skycatcher
    I would bet that on average it's probably better for them if people take the semi index linked option and/or take a larger lump sum.
    But then there are individual things that need to be taken into account such as other income you may be getting in the future and whether you want more money when you are younger or older.
    I guess it's nice to have these choices but they are not easy to make. I have changed my way of thinking a couple of times already.
    Originally posted by robin61
    I always thought I'd take the standard offering but I think I'll dig out my last quote and re examine the other options again
    • jennyjj
    • By jennyjj 5th Jul 18, 6:41 PM
    • 311 Posts
    • 399 Thanks
    jennyjj
    I always thought I'd take the standard offering but I think I'll dig out my last quote and re examine the other options again
    Originally posted by skycatcher
    That way lies madness
    • robin61
    • By robin61 5th Jul 18, 9:29 PM
    • 657 Posts
    • 481 Thanks
    robin61
    I always thought I'd take the standard offering but I think I'll dig out my last quote and re examine the other options again
    Originally posted by skycatcher
    Same here. Until a colleague knocked up a really good spreadsheet where you can model whatever CPI rate you want and look at the break even points. It really focussed my mind as to how long it was probably going to take to break even.
    For me, I have a decent AVC so I don't have to sacrifice pension to get the max. At least that's one decision that's easy.
    • skycatcher
    • By skycatcher 6th Jul 18, 12:44 PM
    • 25 Posts
    • 5 Thanks
    skycatcher
    Same here. Until a colleague knocked up a really good spreadsheet where you can model whatever CPI rate you want and look at the break even points. It really focussed my mind as to how long it was probably going to take to break even.
    For me, I have a decent AVC so I don't have to sacrifice pension to get the max. At least that's one decision that's easy.
    Originally posted by robin61
    Don't suppose there is shareable version of that spreadsheet? I have no AVCs - I left in 2003 and put the max from my leavers package into the main pension - so only have 3 options to consider!
    • robin61
    • By robin61 6th Jul 18, 5:01 PM
    • 657 Posts
    • 481 Thanks
    robin61
    Don't suppose there is shareable version of that spreadsheet? I have no AVCs - I left in 2003 and put the max from my leavers package into the main pension - so only have 3 options to consider!
    Originally posted by skycatcher
    If you send me a private message with your e mail details I will e mail it to you on Monday.
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