January 19, 2018 / 10:15 AM / 5 months ago

BRIEF-BT Group Says Court Rules On Index For BTPS Pension Increases

Jan 19 (Reuters) - Bt Group Plc:

* ‍COURT RULES ON INDEX FOR BTPS PENSION INCREASES​

* ‍HIGH COURT HANDED DOWN JUDGMENT ON FRIDAY WHICH CONFIRMS THAT IT IS CURRENTLY NOT POSSIBLE TO CHANGE FROM RPI TO ANOTHER INDEX​

* “DISAPPOINTED WITH DECISION AND WILL NOW CONSIDER JUDGMENT IN DETAIL IN ORDER TO DECIDE NEXT STEPS”

* RELEVANT INDEX FOR PENSION INCREASES FOR MEMBERS IN SECTIONS A AND B OF BTPS REMAINS UNCHANGED AS CONSUMER PRICE INDEX​

* NEXT STEP INCLUDES POSSIBILITY OF AN APPEAL

* ‍CONTINUE TO REVIEW FUTURE PENSION BENEFITS UNDER OUR MAIN DEFINED BENEFIT AND DEFINED CONTRIBUTION SCHEMES IN UK​

* ‍TRIENNIAL VALUATION IS PROCEEDING; STILL EXPECT TO COMPLETE VALUATION IN FIRST HALF OF 2018 CALENDAR YEAR​

* ‍HAVE JUST COMPLETED A CONSULTATION WITH AFFECTED EMPLOYEES AND ARE NOW CONSIDERING THEIR FEEDBACK BEFORE CONCLUDING REVIEW​ Source text for Eikon: Further company coverage:

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