Dear Colleague
BT Retirement Plan
Contribution Levels
Following the passing of
Motion 45 at the Telecom Industry Conference 2005 the CWU has been in
discussions with BT concerning the contribution levels for members of the BT
Retirement Plan (BTRP) and looking at ways of encouraging members to make higher
levels of contribution. The issue is complicated by the fact that neither BT
nor the CWU can issue members of the BTRP with financial advice.
BT will be contacting some
members of the BTRP this week to encourage them to make the most of the BTRP. BT
will be contacting those who have decided to pay the minimum 4% contribution
level and also to opt for the “lifestyle” investment approach rather than making
any active decision on investment alternatives.
It is hoped that this will
help increase levels of awareness of the importance of contribution levels and
the investment options available.
The communication has been
agreed by the BTRP Trustees and will be sent out either by e-mail or in the post
depending on individual circumstances. A copy of the letter and the e-mail are
attached for information.
The CWU supports this
initiative as a positive step towards ensuring BTRP members are fully aware of
their options. A further report will be made once the results are known.
Yours sincerely