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Advice concerning British Telecom Pension fund.?

I am an ex British Telecom employee and I am concerned about recent news about a deficit in the fund. Can anybody give me any sage advice or real information. British Telecom have yet to reply.

You have what is called a "Frozen" Pension as you are no longer contributing to it. If you are really concerned about it, you should see an Independent Financial Adviser, appoint them to look after your pension.

If you wish you can transfer this from the BT Scheme into an ordinary Personal Pension where you will have more control over it. Historically, however, the BT scheme has always been one of the best and despite the fund being in deficit there will be valuable benefits in there for you.

Ask an IFA to get a transfer value for you, the IFA will do a transfer value analysis - make sure he/she is G60 which is the qualification needed to arrange a pension transfer - and once you have the analysis you can decide what it best for you.

Hope this helps - I am an IFA living in Spain, but if you don't know of a good IFA in UK, email me and I can put you in touch with a pensions specialist.

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