BT to pay £2bn into pension fund to halve deficit
BT says it will pay £2bn into its pension fund to help cover the scheme's deficit.
It is one of the biggest one-off payments yet made by a company into a pension fund.
The payment is part of a nine year plan to bolster the scheme, which at the last valuation in June had a deficit of £4.1bn.
Tom McPhail of financial advisers Hargreaves Lansdown told BBC News "The scheme is still in deficit, but not as bad as it could have been".
23 Mar 2012
- From the section Business