Pensions could impact on BT profits

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Financial Services > Pensions > Annuities >

Pensions could impact on BT profits

Thu, 07 Feb 2008

The fresh pensions accounting rules shake up could damage the BT final-salary pension scheme balance sheet, according to a new report.

British Telecom, a leading communications company, are to report their third-quarter profits today. Despite spending out to balance it, it is expected that a hole in the pension scheme will be revealed.

According to reports, the impact of the new accounting rules, whereby pension scheme investment returns would be included in the balance sheet, could drag BT profits right down.

With the rules, it is likely that BT will curtail their long-standing final salary pension scheme . Investors have already pressured BT to cut their pension scheme .

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