Market Volatility Takes Toll on BT Pension Scheme
31 July 2012 (PLANSPONSOREurope.com) – BT’s pension scheme posted a 1.7% investment return for the year, according to the scheme’s 2011 annual report.
The figure for the year brings the return over the last three years to a rate of 8.4% per annum, 4.4%/4.8% ahead of the Retail Price Index/Consumer Price Index respectively.
The report says while the global economic outlook continues to cause nervousness in markets, the scheme’s investments have not been unaffected by the volatility experienced throughout 2011.
The scheme noted a generally poor year for equities, but a much better one for the Gilt market, as problems in the eurozone and austerity in the UK led investors to seek safe haven investments.