The trustees of the BT’s final salary scheme are considering the break-up of Britain’s biggest pension fund, relieving the telecoms giant of the need to spend almost £3 billion over the next decade.

Announcing the results of the latest three-yearly actuarial valuation, BT said that at December 31, 2005, its main pension fund had a £3.4 billion deficit on liabilities of just over £40 billion. BT promised yesterday to contribute £2.8 billion to the fund over ten years to cover the shortfall.
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