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BT Pension Scheme

United Kingdom

The BT Pension Scheme (BTPS or the Scheme) is the largest company pension scheme in the UK and one of the largest pension funds in Europe. A defined benefit pension scheme for employees, former employees and dependants of BT Group plc (BT) and some of its associated companies, the Scheme closed to new members in 2001 and to future accrual for most members in June 2018.

Fund Results

BT Pension Scheme

	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score 55	Rank 55	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank
Overall	87	3	77	12	63	32	74	14	56	45	42	64	49	54	47	57	47	57	81	7	82	6	83	4	88	2	81	7	74	14	52	50	51	52	57	43	58	40	53	48	52	50	39	68	49	54	43	61	66	29	67	27	61	38	57	43	54	47	64	31	63	32	63	32	58	40	46	60	66	29	38	69	35	72	40	65	51	52	35	72	40	65	37	71	25	74	11	75	73	16	77	12	81	7	72	18	73	16	89	1	55	46	70	23	43	61	40	65	47	57	43	61	58	40	63	32	63	32	78	10	67	27	72	18	69	24	72	18	69	24	78	10	59	39	63	32	53	48	68	26	83	4	72	18	48	56	38	69	71	22
Cost	69	11	67	15	55	34	69	11	58	26	45	47	58	26	55	34	45	47	64	17	69	11	65	16	90	3	68	14	73	9	57	30	54	38	60	22	55	34	56	33	53	40	45	47	59	24	55	34	57	30	37	59	34	61	24	67	41	54	23	68	39	58	26	65	26	65	14	73	50	42	37	59	30	62	29	63	54	38	7	75	15	71	20	69	18	70	13	74	73	9	76	7	93	1	76	7	81	4	91	2	15	71	51	41	28	64	41	54	40	57	47	46	45	47	50	42	50	42	64	17	50	42	60	22	58	26	57	30	42	51	77	6	42	51	63	19	59	24	61	21	79	5	58	26	42	51	41	54	63	19
Governance	100	1	95	7	90	14	92	12	64	50	42	68	63	53	61	55	72	39	95	7	97	4	100	1	100	1	96	5	84	23	47	66	54	62	64	50	53	63	69	44	68	45	57	59	71	42	57	59	94	10	95	7	72	39	82	26	71	42	82	26	74	36	87	21	77	32	58	58	64	50	39	70	41	69	50	65	53	63	37	72	73	37	62	54	43	67	11	75	72	39	75	35	77	32	67	47	76	34	89	16	83	25	81	28	65	49	39	70	59	57	66	48	84	23	80	29	89	16	88	18	79	30	92	12	90	14	88	18	96	5	88	18	73	37	79	30	60	56	56	61	93	11	68	45	30	74	34	73	87	21
Performance	90	5	65	32	64	36	84	13	62	38	43	66	66	30	63	37	61	42	88	9	90	5	92	4	89	8	85	11	77	19	52	55	49	60	69	26	60	45	49	60	59	51	39	69	49	60	53	54	42	67	61	42	68	27	60	45	41	68	65	32	67	29	62	38	60	45	61	42	85	11	51	56	51	56	72	23	75	21	24	74	39	69	49	60	25	73	21	75	60	45	68	27	75	21	66	30	62	38	95	1	48	64	94	2	33	72	38	71	45	65	60	45	59	51	76	20	82	16	82	16	60	45	65	32	62	38	71	24	65	32	70	25	59	51	51	56	51	56	83	14	93	3	90	5	87	10	80	18	83	14
Responsible Investment	85	11	78	27	53	47	61	41	46	51	45	52	15	69	15	69	17	67	87	8	81	22	88	7	84	14	84	14	72	35	59	43	54	45	42	55	73	32	44	53	34	59	19	66	22	63	11	72	80	25	84	14	77	29	71	36	70	37	93	3	81	22	85	11	78	27	57	44	73	32	32	60	22	63	12	71	29	61	77	29	39	56	22	63	17	67	3	73	94	1	87	8	89	5	89	5	84	14	94	1	84	14	65	40	53	47	48	50	37	57	3	73	54	45	44	53	28	62	90	4	87	8	82	20	73	32	80	25	84	14	85	11	70	37	67	39	51	49	81	22	77	29	82	20	37	57	0	75	61	41

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Brightwell ponders implications of shake up in UK pension scheme surpluses

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