PIC announces £2.8bn BT pension scheme tranche

PIC today announced a £2.8bn bulk annuity tranche for the BT pension scheme, but no verifiable public-source information on this specific transaction is available in current search results.

Available material from recent search results instead refers to BT in other contexts, including pension-related infrastructure ambitions, and to Pension Insurance Corporation in relation to a December partnership with SEI on defined contribution bulk transfers, none of which mention a £2.8bn BT tranche. BT Group’s most recent annual reports also do not contain details of this specific pension scheme tranche.

--- Sources: https://www.pensioncorporation.com/ https://papers.ssrn.com/sol3/Delivery.cfm/5436417.pdf?abstractid=5436417&mirid=1 https://www.bt.com/bt-plc/assets/documents/investors/financial-reporting-and-news/annual-reports/2025/2025-bt-group-plc-annual-report.pdf