BT pension schemes governance
Both existing BT pension schemes have proper governance arrangements giving members a real voice in the running of their scheme at the most senior level.
The BTPS is governed by a Trustee company of which there are nine directors (including a Chair), four of whom are union nominees. The Chair is appointed by BT after securing agreement from the unions.
The BTRSS is a contract-based scheme as opposed to a trust-based one so does not have a board of trustees. However, it is governed by a committee consisting of both union and management nominees and an independent chair.
There are also five BTRP Trustees (including a Chair appointed on agreement with the unions), two of whom are nominated by the unions, whose role it is to look after the funds which remain in the BTRP.
All Trustees are wholly independent of BT and are required by law to act independently and in the interests of all the members of the scheme.