Member Info for NDNIC00

Pokerchips. Firstly, the pensions of the BT defined final salary scheme did not ask for the terms and conditions they receive. When joining the company when the scheme was open that is the pension they were offered, not one they demanded.
Secondly, in the last years that the scheme was active the employees saw there contributions rise, then were moved on to a career average scheme for the rest of there employment, there by reducing there planed pension. BT have done the correct thing and stood by there responsibility and continued to back the scheme going forward, the right and proper thing to do.
What is wrong with doing the right thing and sticking by the commitments entered into in the past…

Can’t see this having a negative impact on BT restoring its divided. There is a pension payment plan in place for the defined scheme, reviewed every 3 years and expected to put the scheme in surplus by the end of the 2020s. BT has a proven history of supporting the scheme and still being able to pay a dividend. At the end of the day there is always the Crown guarantee for the protection of the members…

Also noticed this the other day, oppps sorry my fault…
https://www.msn.com/en-gb/news/world/spacex-e2-80-99s-starlink-satellites-near-misses-with-other-spacecraft-are-getting-e2-80-98out-of-control-e2-80-99-experts-say/ar-AANybG4

The thing is, at present BT are not only funding the build of a full fibre network, but also spend a fortune on maintaining the copper local end that provides service to most consumers of BB products. This network requires a lot of man hours to keep it going due to the nature of a metallic network. Once the network becomes full fibre the support costs of the copper network end. The fibre network will just sit there transporting services at no cost to maintain unless someone with a JCB pulls it out of the ground. So the staff levels will drop dramatically, as will there costs, tools, vehicle, back office support, commas equipment etc. The glass in the ground will sit there generating income at almost no cost except for any improvements to the electronics at the end, the amount of buildings and office space will reduce dramatically. We just have to wait a few years to reap all these rewards.

Perhaps it’s, “ Back to the Future “.
Post office Telecommunications…

WOW… So in 3 days you have gone from,
“ They are relying on ‘fight or flight’ instincts of humans. If the share price had continued to rise above £2 private investors would buy more. If instead, a carefully worded set of results is released and the price drops, individuals follow herd mentality and sell. Instead do the opposite to your gut instincts. In my opinion - buy.“
To selling 50% of a 4 month old holding in an ISA. The whole point in putting shares in an ISA is to avoid paying tax on any profit above your allowance, ie for long term investment, not usually for just a few months…

df. Thank you so much for your input. It really is a shame that the majority of your posts, on many companies, is negative, perhaps you could look into having a glass half full attitude going forward.
Please fell free to return once you have attained that positive mental attitude…

Look, if people keep mentioning the V company and it’s tech, somebody may start getting exited…

“ morgydoodle”. Ignore. It’s just a troll, only been a member in this avatar for 48hrs…

Yes. As said before, a couple of pence a week as an average rise and I will be happy. Nice to see that all though there has been a bit of a drop over the last couple of weeks, it looks like the BT na sayers are elsewhere licking there wounds. GLA. Inc Rod …

Like many others, I have always believed that Network is King, and the last week would appear to back this up. Will OR be spun off ? I for one do not think it will, but I see the logic in perhaps selling a percentage to bring in the extra revenue to speed up FTTP rollout. A good week and hopefully the realisation that BT is very under valued. Well done to all that have held on through the rough patch…

Agree Bkk. Not so long age, this is a dog of a share, be back at £1 again soon, too much debt, Virgin to batter BT share price with BB rollout, BOD need to be sacked, only worth what it was when it floated,,, Those of us with faith and understanding are now being rewarded, rather a Tortoise than a Hare…

Good to see those who have kept the faith are seeing a reward, where have all the negative posters gone ???

Yes Fleccy, 21c was about replacing PDH & other older transmission systems but was also to include a move from PSTN to VOIP but that part was a complete and utter Willy up. As time move on and other options were looked into they started offering a, Hub Phone giving a second line with VOIP there were issues and it never caught on. Now the tech has improved the move to VOIP is not an issue once an area is FTTP. As you say PSTN will slowly be switched off, even 21c is now being replaced by Ethernet and other solutions. Also BT could only manage 5 year plans and even then most only lasted 18 months before they were replaced by the next 5 year plan !!!!!!

Lion, yes when I left your pension lump sum was tax free, I believe it is still the same now when you take it, as BTPS section A,B,C earned up to 2010 is final salary. After that date it became, an average of your earnings after that. There was a limit on the lump sum for the final salary but it was around 100k after that I believe there was an increase in your annual pension instead.

I understand the logic of your comments, I just wonder if a relatively short term high payments situation could be seen as negatively impacting the scheme by some parties. I have to say when I left we wee given independent advice on our pension and the basic advice was to go for the largest lump sum as you could decide how to use it, unless your circumstances were such that a high monthly income was better. It is an each to there own…
GLA for Thursday…

Yes some will be near six figures if they take the option for the largest lump sum with the lowest annual pension. There are several combinations, smaller lump and highest annual pension through part fixed pension and part increasing pension. Remember this was part of the old Post office pension and some members would have been paying into that for almost 30 years then into a career average pension for the latter part of there service. People joining in the early eighties would have retired at 60 on near half pay, until the rules were changed that moved the normal retirement age for the scheme increased to 65. When the changes came in around 2010 most members would need to work an extra 2-3 years after 60 to get what they would have got originally at 60. A c3 engineer is on around £40k and these are the people that have been encouraged to leave over the last few years. Yes it is a very good pension, but it was drawn up over 40 years ago, much like the good pensions that older members of say, the police or firefighters used to be offered back then. A job for life and a good pension. But the world has moved on, and we will not see this again. I still wonder if it could have a short term impact with members taking it early and living longer than expected 10 or 20 years ago. We will see in a few years…

Oils ??? Should be, Will.

Hopefully the deficit will reduce perhaps by the amounts being talked about in recent days. One thing to consider is that there will be a lot of members leaving BT in the next year of so under a scheme that allows them to set a date in the future to leave under a redundancy package. Some will already be near to doing so and as they have been with BT since the early eighties will be possibly taking around a six figure lump sum. So this may well impact on the schemes finances over the next 2-3 years as they will be drawing there lump sums sooner than expected. The BTPS pension age is 65 but many will be leaving in a short period of time before reaching 65 with only a relatively small reduction in there benefits, I believe at present it is 6% per year early so many will only be reducing there full benefits by around 10-15%. It will be interesting to see how this impacts on the deficit at the next review in 2024, oils it rise again? in 2024…

Aus hate to point this out but, the word police will be knocking on your door with all the errors in your post @ 11.03

Just saying, wot goes around and all that...