BT Request to Change Pension Increase Index Is Turned Down

By FeaturesDow Jones Newswires

BT Group PLC (BT.A.LN) said Friday that the U.K. High Court ruled it isn't possible to change the index used to calculate pension increases.

The company had previously sought a change from the retail-price index to another index as a way of calculating pensions, it said.

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BT Group said it is disappointed with the decision, and will now consider its next steps, which could include a possible appeal.

The company had asked the court in December whether in the future it would be possible to switch the index used to calculate pension increases paid to members of section C of its pension scheme.

The company uses the consumer price index for increases in sections A and B of its pension scheme.

Shares at 1038 GMT were down 4 pence, or 1.5%, at 263 pence.

Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com

(END) Dow Jones Newswires

January 19, 2018 06:15 ET (11:15 GMT)

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