BT Pension Liability May Reach GBP22.8 Bn - FT

14th Jul 2010 07:31

LONDON (Dow Jones)--U.K. taxpayers face a pension liability of between GBP7.3 billion and GBP22.8 billion if BT Group PLC (BT) was to become insolvent and its pension schemes terminated, according to written papers submitted to the U.K.'s High Court, the Financial Times reports Wednesday. The huge difference between the figures illustrates why BT, the pension scheme trustees and government lawmakers have been unable to settle a dispute over the size of the taxpayer liability, the paper says. Trustees for BT Group's employee pension plan, the U.K.'s largest defined benefit scheme, have asked the court to rule on how much of the fund taxpayers would have to underwrite if BT collapsed. Newspaper Website: www.ft.com -London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320 (END) Dow Jones Newswires July 14, 2010 02:31 ET (06:31 GMT)