The CEO of BT, Ian Livingstone, has reportedly said that he expects regulators to relax the restrictions on the company’s pensions support plan after the company announced some big reductions in its pensions deficit.
According to a report today in the…
The CEO of BT, Ian Livingstone, has reportedly said that he expects regulators to relax the restrictions on the company’s pensions support plan after the company announced some big reductions in its pensions deficit.
According to a report today in the Daily Telegraph, the company’s pensions deficit was £3.2bn at the end of 2010, after being £9bn a year earlier.
The UK pensions regulator has reportedly said that it had placed its review of BT’s pensions recovery plan on hold until a final court decision on the issue of whether the pensioners of BT are protected by a crown guarantee.
This guarantee means that taxpayers would pay BT’s pensioners if the company ever did go bust.
Livingstone reportedly said that he did not expect a decision on this guarantee before the end of 2011.
