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BT PENSION SCHEME

income tax resulting in the effective rate of tax of 55% for a 40% tax payer, and 58.75% for a 45% tax payer. The Lifetime Allowance for the tax year 2017/18 is £1 million, and is expected to be increased in line with CPI inflation from 2018/19. Some members may have previously applied for Lifetime Allowance protection, meaning they have a

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Annual Report and Accounts 2020 - BTPS

www.btps.co.uk

Independent auditor’s report 38 Independent auditor’s statement about contributions 40 ... BTPS Annual Report and Accounts 2020 2 Contents. The Scheme’s net assets were valued at £57.5bn ... portfolio career he was Director General of the Association of British Insurers from 2011 to 2015. Previously he was Chief Executive of

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BT PENSION SCHEME

www.btps.co.uk

under current legislation. Employers now have a duty to automatically enrol eligible employees every three years, so even if you don’t ask to join a scheme, you may be automatically enrolled into a pension scheme at a later date. Membership You can opt out of the Scheme without leaving BT employment by giving one month’s notice. BT PENSION ...

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