BT: We're shuttering final salary pension scheme
The DB Pension Scheme means BT would still be on the hook for a guaranteed portion of the employee's final salary at retirement – though this will likely be a far smaller figure due to the revamp. The Communication Workers Union (CWU) told The Register that a deal has been struck for a hybrid scheme that includes elements of defined benefits (DB) and defined contributions (DC) pension scheme. BT plots to slash pension benefits for 32,000 staff. BT, Sky bury hatchet with deal to sell each other's telly channels.