Reply to post: Re: "Actuaries are extremely good at processing facts and past statistics."

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

Anonymous Coward
Anonymous Coward

Re: "Actuaries are extremely good at processing facts and past statistics."

Think of a number. Any number. That's BT's pension deficit, that is.

"BT has slashed its pension liabilities by £1.8bn in three months through deficit recovery contributions (DRCs) and a change to the scheme's discount rate.

As of 30 June 2018, the scheme had an IAS 19 accounting deficit of £4.6bn gross of tax (or £3.9bn net of tax), down from £6.4bn (£5.3bn) as at 31 March 2018.

The reduction is despite a £500m "error" in the calculation of liabilities by the scheme's actuary Willis Towers Watson. In the company's March financial update, the consultancy had erroneously omitted the figure, leading to an understatement of the liabilities."

from an article published today at

https://www.professionalpensions.com/professional-pensions/news/3036669/bt-pension-deficit-plummets-gbp18bn-despite-actuarys-gbp500m-error

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