Bt Share Discussion Threads

[toon1966] 18/3/2018 12:14

Defined benefit plans are steadily being phased out, but they still account for more than half of retirement funds in the developed world. An old article but relevant

[winner31] 18/3/2018 11:57

This is a share discussion site and not a pension forum , most people here have invested hard earned money to try and get a decent return from there investment , i’m Sorry but whatever the company does to improve the share price is fine with me ,BT is no longer a public company and money cannot be wasted as it was in the past .

[jomac2412] 18/3/2018 11:36

Toon

fact is the vast majority of companies have made changes to their pensions to reflect reality ,BT should have made the same changes years ago, only weak management has allowed the present pension problems to arise by deferring the problem.As a shareholder I would rather BT were investing for future growth and not wasting money thats not necessary on pensions, like in most workplaces if workers want to be entitled to a good pension then they should have to contribute more money into it .

[careful] 18/3/2018 11:14

If you get to running a £29bn turnover company with 100,000+ employees,
then you are a very important man. You affect you shareholders, employees and via taxes, society at large.

You should make as much as Lionel Messi, Mick Jagger or Neymar.
I see that latter footballer has demanded a pay rise above him £1m p.week.

As a shareholder, the top mans salary is unimportant as long as he is the right man for the job.
Martin Sorrell turned a wire and plastic super market trolley manufacturer into the Words largest advertising agency. He made his investors rich, and did well himself.

[toon1966] 18/3/2018 11:10

wllmherk - just to clarify I am on a deferred pension, meaning I won't be drawing down on my pension until I'm 60. I'd also like to point out that I made pension contributions through my monthly salary and not just BT Group. I'm sure all pensioners around the country will be happy to have their private pensions cut to satisfy poor hard done by shareholders.

[diku] 18/3/2018 10:55

Don't think one can compare Patterson with Goodwin...total different situations...
a shop worker who underperforms could get 3 strike warnings and out without golden goodbyes...unfortunately there is no such warnings at the top...how many CEO's who have underperformed or run the company to the ground have been sacked with financial contract curtailed back or clawbacks...instead it is always the CEO or other steps down with golden goodbyes...to keep their contract intact...it is not just about financial security but more the way the system is set up that favours guys at the top in sticky situations...exclusive club merry go round...just put noughts and crosses in the ballot boxes...

[careful] 18/3/2018 10:40

Yes, the Chairman has a great track record and will keep G.P. in check, support him or even replace him if he is not up to the job.

[ianood] 18/3/2018 10:34

The more important question is what is Jan Du Plessis thinking!

[careful] 18/3/2018 10:34

Patterson will wish to be highly thought of.
Just having financial security does not mean that he does not care.
Do you think he wants to go around knowing that people think he is an incompetent fool?
Money isn't everything.
Fred Goodwin must feel down most of the time.

Hoping Patterson will sort this.
The CWU struck a deal with RMG, and remember BT was once joined to RMG.
a sister company if ever there was one.
They will strike a similar deal which was based upon the company paying an amount each year into the pension pot, an amount that could be afforded.

[jomac2412] 18/3/2018 10:31

If Patterson has any pride in himself then it should matter to him , do you think he would rather leave the company on a high or at the low point the company is in at present?

[diku] 18/3/2018 10:15

Do you honestly think it matters to Patterson?...he will walk away with a golden goodbye handshake like they all do within the Plc casino markets...and then onto the next project...it is a merry go round within FTSE 100!!...and who are these characters that approve golden hellos & golden goodbyes?...within themselves...what formulas do they use to work out how much someone is worth paying salary/bonus/free shares/health care/company expenses/ etc etc etc...regardless of performance or a non performer?...

[jomac2412] 18/3/2018 09:59

Pensions should be cut and the Company should get back to a increasing dividend's by 10% p.a.while at the same time maintaining the present dividend so as to encourage Investment in BT, Major shareholders I'm sure will have the boot on Pattersons neck to ensure no dividend cut takes place , if a cut takes place Patterson will be finished and quite rightly so.

[wllmherk] 18/3/2018 09:15

personally, I would ban trade unions, almost destroyed the UK during the 70's. Management need to show some courage, implement changes whether it pleases unions or not. These gold plated salary schemes are no longer viable and I'm afraid pensioners such as Toon will need to take a hit to their finances.

wllm

[jomac2412] 18/3/2018 09:08

BT don't need to consult with anyone , they have had the courtesy of consulting with the Union now we as shareholders need the management to get on with implementing the changes required whether it pleases the Union or not.

[toon1966] 18/3/2018 08:39

jomac2412 - maybe BT should consult with the likes of London Underground and the rail companies, they certainly know how to deal with their unions.....

[jomac2412] 18/3/2018 07:22

BT need to be tough with these dinosaurs ,push through the pension changes immediately, lets see how CWU members feel about taking industrial action when they realise they won't be getting paid while taking such action.Any share price falls would be temporary if BT push through the pension changes , if they try and appease the Union with a soft pension deal the shares will not recover for a very long time imo.

[eisler] 17/3/2018 13:39

This is on Twitter and gives the CWU perspective

BT Pensions February Update From Angela Teeling
Following this year's Branch T&FS section AGM and ahead of this week's national briefing on BT Pensions, Branch Assistant Secretary T&FS Angela Teeling wrote to all our section members:
February 20th 2018 was the Branch T&FS section AGM, for those who attended I would like to thank you for making the effort to come along.

For those who did not, you probably missed the best speaker we have ever had at a meeting: Karen Rose, who stood and spoke for well over an hour then answered questions. Never before have we received emails praising our guest speaker and thanking us for arranging the meeting.

As the topic of the BT pension affects us all, in such a big way we have decided to do something unprecedented, and send you some notes that were taken at the meeting: usually these would be reserved for next year’s AGM and form the minutes of the meeting.

THANK YOU to everyone who emailed in during the consultation period, our branch return was higher than the national average, 48% of you emailed in to Wealth at Work.

The activities of the branch have been noted by CWU HQ, we will endeavour to keep these going throughout the year.

98% of you sent in your pension details putting us in the top 5 branches in the country for sending details – however we still have some outstanding and some home addresses missing – not that the people will know because obviously, they will not be receiving this letter.

We hope you read the enclosed notes, they are an up to date ‘where we are’.

We have been called to a meeting on the 14th March 2018 in London re: BT Pensions.
We will update all members upon our return.

However, we need up-to- date info on emails and mobile numbers, where you garage (Home or what yard) without this info we would struggle to ballot our members on any action or on an agreement of any proposals.
BRANCH T&FS AGM DISCUSSION 20TH FEBRUARY 2018
The result of consultation had pushed BT back to the discussion table: receiving so many emails, although BT have tried to play it down.

A background on how BT had positioned the need for change: the deficit, flexibility, costs, etc. CWU acknowledge change is necessary and in fact welcome it in respect to the BTRSS pension scheme.

The CWU have always had a policy on the BTRSS pension scheme, we are not losing sight on that at all: by comparison it is nowhere near as good as the BTPS scheme.

The firm we all emailed correlated the info received and fed this back to BT: now BT are using this against the CWU.

When the CWU argue to keep the BTPS scheme open BT state it’s not what our members want as many had said they do not want to pay more for less, but the CWU are arguing it is the degree of how much more for how much less that our members have argued against. They keep throwing it back at the CWU. Wealth at work (who we all emailed) did not pass the actual emails on to BT but because many of you copied the CWU in, our union negotiators have seen the points people were making.

BT have a pot of money, they want to trade off one pension scheme against the other: the more they save on BTPS means they will put more into the BTRSS, completely ignoring the fact that they determine the size of that money pot and could put more in it for everyone. In some respects BT are trying to hold us to ransom.

After the evaluation the CWU do think that the pension’s schemes will cost BT more, but that the company can afford a lot more than it is offering.

BT served notice that they wish to make changes in April; CWU had to ‘remind’ the company that because of legally binding agreements made in the past the notice period has to be 12 months and this means no change can be implemented until May, not April as BT have suggested.

The CWU have a mandate: to keep the BTPS scheme open. This is in their negotiation strategy but to keep it open will need some changes, but not the ones BT are suggesting.

BT are making a big play on offering the opportunity to defer your BTPS pension. Apparently, and forgive me because I don’t know exactly how it works, but due to safeguards placed by previous negotiators if you defer your pension to after the age of 60, it accrues at a much greater percentage every year than it does prior to this: in the region of 9 to 10% per year.

However the CWU have pointed out that our members are not paid well enough to defer their pensions, what would they live off: plus history shows that our members take their pension when they can no evidence anyone defers. The average age of taking a pension is 58/59 years.

CWU have put ideas and alternatives forward, BT have taken them away to look at.
Discussion points:
The BT modeller is wrong
Between the 3G and O2 contracts BT have thrown money away. More recently Italy.
Benefits to DC scheme need to match those in the BTPS scheme.
BT are passing the risk of the pensions onto us if all placed into the BTRSS.
Holding the CWU to ransom will not work.
We want fair pensions for everyone, the BTRSS needs improving drastically.
BT have messed up and now our members are expected to pay for it.
Share-holder dividends are still being paid
BT are testing the CWU industrial strength, our Branch think have underestimated our members’ strength of feeling, for both schemes.
Basically – the fat cats are getting fatter and we are expected to pay for their privilege. Yet it would take 1% of BT’s profit to fix the situation of the pension deficit.
External pressure are being placed on the company: the Openreach split, shares, OFCOM, competitors etc. They are pushing BT to resolve this quickly.
This whole thing is about appeasing the ‘city’ as they are getting twitchy, the shares could drop if this carries on, BT wish to resolve this as soon as possible to keep the city happy.
Greater Mersey Amal Branch Officers say:

“MAKE THE CITY TWITCH, SUPPORT YOUR UNION”

[alphorn] 17/3/2018 12:57

FSS (DBS) or DCS (MPS) are all about who bears the risk. I agree that FSS are a thing of the past.
(That does not mean that any changes are made retroactively).

[4spiel] 16/3/2018 20:43

The difficulty with pensions is that they are having to be paid by companies from current revenues -returns on invested capital whilst interest rates and bond yields are so low..Several smaller pension providers have sold their liability on to bigger fish. BT is a telecommunications Company and should be run as one. Final Salary schemes used to be the norm but far from it now - they will just have to get into line.

[chocco] 16/3/2018 19:32

4spiel you forget all the workers who are in the old pension o
who have along way to go before retiring . I'm sure you will have the last laugh when the union sell us down the river

[chocco] 16/3/2018 19:29

no i am fit has a fiddle so you and 4spiel have a long time before my pension stops

[pacemaker1000] 16/3/2018 17:42

Yes you’re right. Been told to expect result Monday . But could leak in Sunday papers
No guarantee it will push the share price up given market discontent but hope so

[winner31] 16/3/2018 17:00

Everything i’ve Read makes me think it will be sorted next week might even be Monday morning

[eisler] 16/3/2018 16:41

Why not? You think there will be an announcement on the pension situation?