O2 and Virgin Media announcement

  Completion of the Joint Venture combining the Telefonica UK and Virgin Media UK businesses took effect on 1 June 2021, following publication of the Competition and Markets Authority's decision to approve the creation of the Joint Venture.   The Trustee and the Company (Telefonica… Read more »

Bulk transfer - update

  The Company’s new pension scheme with Legal & General has now been up and running since 1 December 2020. In April 2021, all members with defined contribution benefits invested with Standard Life were contacted to advise of the transfer of these funds to Legal… Read more »

Pension review - outcome

  Following the closure of the employee and union consultation period, the Company has communicated to all employees that from 1 December 2020 they will move to a new pension scheme within the Legal & General Worksave Pensions Mastertrust (‘Legal & General Mastertrust’).   The… Read more »

Pension review

  The Telefónica UK Pension Plan Trustee (the Trustee) and the Company set up a joint working party to review your DC pension benefit.  (Note that this does not apply to DB or final salary pension).  The Company has now opened an employee consultation on a… Read more »

LCP Accreditation

  Our DB Section Administrator, LCP, has recently been awarded PASA (Pensions Administration Standards Association) accreditation. This news demonstrates the high standards they operate to, which is to the benefit of our Plan members.     PASA’s main objectives is to improve pension administration standards and… Read more »