BT managers accept pay and pensions deal
Managers at telecoms giant BT have voted to accept a new pay and pensions deal following "intense and difficult" negotiations.
The Prospect union said its members will now receive a pay rise of between 1-2% and extra transitional arrangement for those moving from BT's defined benefit pension scheme (BTPS) to a defined contribution scheme.
BT announced last year it was closing the BTPS to future accrual from April for thousands of managers.
Prospect said its members voted by three to one to accept the pay offer and by 60% in favour of the pension proposals.
Prospect has been involved in difficult negotiations to ensure the best possible pensions deal for all of our BT members.
Full details of the deal can be found here: https://t.co/HmYC6eubku
-- Prospect Union (@ProspectUnion) January 8, 2018
Prospect national officer Philippa Childs said: "This vote gives us a mandate on which to reach a final agreement with BT. While the margin among those in the BTPS is understandably much closer, members in both schemes have voted to accept the proposals.
"We recognise that this has been a difficult and painful decision for those who are currently members of the BTPS.
"However, the improvements we have negotiated and the transition arrangements will soften the blow for those having to move."
Prospect represents most of the 20,000 managers involved.
A BT spokesman said: "We're pleased that employees represented by Prospect have voted to accept the changes we're proposing to our two largest pension schemes.
"We understand the importance of our proposals for our employees and have spent considerable time developing them and working with Prospect to ensure they are fair, flexible and affordable for all.
"Our employee consultation is due to end on January 17, after which we'll consider all their feedback before announcing our plans."
