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".

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