Pension Trustee Head of BT Steps Down After Completion of Valuation

    By Ardfern (Own work) [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0) or GFDL (http://www.gnu.org/copyleft/fdl.html)], via Wikimedia Commons

    Eileen Haughey, the head of the pension scheme trustee of BT, is stepping down upon the completion of its actuarial valuation for 2017.

    Five years ago, Haughey joined the scheme overseeing a period of substantial change.

    Paul Spencer, the trustee chair of BT, said that the board was “very sorry” to see the resignation of Haughey and appreciated her “immense contribution.”

    The telecoms giant is anticipated to publish additional details regarding its three-year pension valuation later in 2018.

    The resignation of Haughey comes as a consultation ended last week on a raft of changes to the mammoth retirement fund of BT which was estimated to have a deficit amounting to a maximum of £14bn.

    A social media campaign was launched by the Communication Workers Union (CWU) against the said changes, which include closing the scheme to those managerial grade staff and requiring the other workers to make higher contributions moving forward