BT Request to Change Pension Increase Index Is Turned Down
19 January 2018 - 10:30PM
Dow Jones News
By Dimitrios Kontos
BT Group PLC (BT.A.LN) said Friday that the U.K. High Court
ruled it isn't possible to change the index used to calculate
pension increases.
The company had previously sought a change from the retail-price
index to another index as a way of calculating pensions, it
said.
BT Group said it is disappointed with the decision, and will now
consider its next steps, which could include a possible appeal.
The company had asked the court in December whether in the
future it would be possible to switch the index used to calculate
pension increases paid to members of section C of its pension
scheme.
The company uses the consumer price index for increases in
sections A and B of its pension scheme.
Shares at 1038 GMT were down 4 pence, or 1.5%, at 263 pence.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
January 19, 2018 06:15 ET (11:15 GMT)
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