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Form an orderly queue, people: 31,000 BT staff go to Openreach in October

Alan Brown Silver badge

"BT stopped paying into it in the 90's creating a 12-14bn deficit."

BT stopped paying into it _by government order_ because (on paper) it was massively in profit. Accountants suffering rectocranial inversions and not looking at workforces aging out, etc etc.

Most of that pension liability is in external plant division (openeach), but it doesn't actually matter, as I've detailed in another post about what happened in New Zealand, which had a very similar situation and solved it by actually splitting the companies (the problem solved itself once the creative accounting and anticompetitive hand around the throat were removed from their version of Openreach)

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