Defined Benefit  

BT workers offered to switch to new pension scheme

Alistair Cunningham, chartered financial planner at Wingate Financial Planning, said: "Human nature is to compare the new scheme with the old scheme, and whilst the new scheme is inferior clearly being in the old scheme is not an option.

"BT members will still enjoy a benefit that most workers in the private sector do not have, and it benefits lower earners particularly who could accrue a full basic state pension, their historic BT benefits, and the new scheme."

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maria.espadinha@ft.com