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The BT Retirement Saving Scheme (BTRSS)
Helping you save for a more flexible retirement
Group Flexible Retirement Plan
©2011 Standard Life (Images reproduced under licence)
An important message
This presentation will provide you with information only, to help you make an
informed decision about your pension options.
Please consider the content of this presentation very carefully as BT’s group
pension is a valuable element of your benefits.
If you are unsure as to the suitability of the plan, or any aspect of it, you should
obtain financial advice. There may be a cost associated with this.
Contents
The BTRSS and you,
saving for your
future
What will the
BTRSS give me?
How do I join?
Joining basis
SMART Pensions
How does the
BTRSS work?
How much are the
payments
A quick guide to
investing
Important issues
The BTRSS and you
The sooner you start
saving, the more
likely you will be to
reach your
retirement goals
Helping you save for a more flexible retirement
What will the BTRSS give me?
Generous
payments from BT
which go towards
your pension savings
A taxefficient way to
save for
retirement
A wide range of
investment options
including the BT Share
Fund
Online access to
the BTRSS, so you can
keep an eye on your
plan
Tax and legislation are likely to change. The information given here is based
on Standard Life’s understanding of law and HM Revenue & Customs
practice at the date of presentation.
How do I join?
Please read the important sections of the BTRSS
website, the scheme booklet, Direct Offer letter, Key
Features Document, Key Features Illustration and Your
Pension Investment Choices
You will then be asked to sign a BT Confirmation
Form indicating your wish to become a member of
the BTRSS during your consultation with BT
A few days later, we will send you a
Username and Password to allow you to
access your own webpage on the scheme
website where you can change payment
levels and investment choices
Joining basis
You make payments
through SMART Pensions
You pay 5% of
pensionable salary
BT pay 8%
Payments invested in the
BTRSS Lifestyle profile
What is the salary sacrifice
arrangement known as SMART
Pensions?
This is an arrangement where BT will make your payments into the
scheme, reducing your gross salary accordingly
- National Insurance savings
- this will be a change to your terms
and conditions of employment
- it can affect state benefits,
borrowings and other transactions
based on salary
Please read the scheme booklet or visit the BTRSS website for full
details and examples of this arrangement.
How does the BTRSS work?
What BT pays (including your
payment through SMART Pensions)
Tax relief & NI Savings
+/-
Any potential
investment return
-
Charges
Your pension income - taxed
as earned income
Your tax-free lump sum - upto
25% of fund
Tax relief may be altered and its value to you depends upon your financial circumstances.
How much are the payments?
Payments - % of pensionable salary
What you pay
What BT will pay
5%
8%
6%
8.5%
7%
9%
8% and over
9%
The information in the table above has been provided by BT who set
the payment levels. Please read the scheme booklet or visit the
BTRSS website for full details.
How much are the payments?
If you pay at least 5% of your Pensionable
Salary into the BTRSS, BT guarantees a
minimum employer payment of £1,500 each
year. This minimum payment will be applied
pro-rata for part-time employees or people
who leave during the year.
The information in the table above has been provided by BT who set
the payment levels. Please read the scheme booklet or visit the
BTRSS website for full details.
A quick guide to investing (1)
BTRSS Lifestyle profile - Picked by BT and their adviser
10 Years +
BlackRock Aquila HP
(50:50) Global Equity
Pension One Fund
Within 10 Years
Standard Life Pension
Protection One Fund
Within 2 Years
Standard Life Pension
Managed Cash One Fund
The value of an investment in any of the funds can go down as well as up. You may not get
back as much as you invest. We strongly recommend you speak to a financial adviser before
choosing funds.
A quick guide to investing (2)
BTRSS Lifestyle profile
Number of years from Selected Retirement Age
Fund
10
Years or
more
9
8
7
6
5
4
3
2
1
3
Effective
Months AMC*
Growth Funds
BlackRock Aquila
HP (50:50) Global
Equity Pension One
Fund
100% 90% 80% 70% 60% 50% 40% 30% 20% 10%
0%
0.28%
Consolidation Funds
Standard Life
Pension Protection
One Fund
0%
10% 20% 30% 40% 50% 60% 70% 72% 74% 75% 0.28%
Standard Life
Pension Managed
Cash One Fund
0%
0%
Total Allocation
100%
0%
0%
0%
0%
0%
0%
8% 16% 25% 0.25%
100% 100% 100% 100% 100% 100% 100% 100% 100%
100%
* We charge for managing your plan and investments and take this charge from the fund value, this is 1% each
year on the above funds. BT has negotiated special, preferential terms on your behalf which means Standard
Life will rebate part of the AMC by adding extra units to your fund each month. This effectively reduces the AMC
on each fund. The rebate varies depending on the funds you invest in and is either 0.72% or 0.75% each year on
the above funds. These charges apply whilst members remain employees of BT. The annual charges for the
BTRSS will be increased by 0.3% one year after leaving BT. Charges and rebates are not guaranteed, they are
regularly reviewed and may be changed in line with developments in the relevant markets.
A quick guide to investing (3)
Core Fund Range
Picked by BT and their adviser
Full Range
More than 150 funds, BT Share Fund
Self Investment
Own portfolio (terms, conditions &
charges apply - obtain financial advice)
To help you understand your
fund choices please refer to
the investment section of the
BTRSS website or the online
booklets. For all investments,
the value can fall as well as
rise.
We charge for managing your plan and investments and take this charge from the
fund value. Please read the “Your Pension Investment Choices” booklet on the BTRSS
website or the scheme booklet for details of the funds and associated charges
Important issues
It is important that you read the full pack
contents on the BTRSS website, in particular
the Key Features Document. This details the
risks and commitments involved.
Tax and legislation are likely to change.
The information given here is based on
Standard Life’s understanding of law and
HM Revenue & Customs practice at the
date of presentation.
More information
BTRSS website:
www.btretirementsavingscheme.com
Online information pack
including scheme booklet
and key features document
BTRSS Helpline: 0800 066 5432
More information
BTRSS website:
www.btretirementsavingscheme.com
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