BT 2013 Annual Report Download - page 94

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Governance
92 Governance
92
The table below shows the increase in Tony Chanmugam’s BTPS benefits, which result from revaluation of his deferred benefits in line with the rules
of the scheme. Tony Chanmugam did not accrue any additional pension over the financial year and no other contributions were made.
Increases in pension benefits at 31 March 2013
Accrued pension Transfer value of accrued benefits
Change in
transfer value
c-d less director’s
contributions
Additional accrued
benefits earned in
the year
Transfer value of
accrued benefits
in e less director’s
contributions
2013 2012 2013 2012 2013 2013 2013
£000a£000b£000c£000d£000 £000e£000f
T Chanmugamg204 202 4,588 4,650 (62) – –
a-d As required by the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.
a-b The values represent the deferred pension to which he would have been entitled had he left the company on 31 March 2013 and 2012, respectively.
c Transfer value of the deferred pension in column (a) as at 31 March 2013 calculated on the basis of actuarial advice in accordance with relevant legislation. The transfer value represents a liability of
the BTPS rather than any remuneration due to the individual, and cannot be meaningfully aggregated with annual remuneration, as it is not money the individual is entitled to receive.
d The equivalent transfer value but calculated as at 31 March 2012 on the assumption that the director left the company on that date.
e The increase in pension built up during the year, net of inflation. The gross amount can be calculated by deducting the amount under column (b) from the amount under column (a).
f The transfer value of the pension in column (e), less directors’ contributions.
g Tony Chanmugam’s contributions in 2013 were £nil (2012: £nil).
Share awards under the Employee Share Investment Plan (ESIP) at 31 March 2013
Total number
of shares at
31 March 2013
I Livingston 363
T Chanmugam 679
G Patterson 247
During the year no awards were made under the ESIP.
All UK employees may participate in the ESIP. The awards are not subject to any performance conditions.
Former directors
Sir Peter Bonfield received under pre-existing arrangements, a pension of £443,435 in 2012/13 (2011/12: £423,125).
Baroness Jay retired as a non-executive director on 13 January 2008 but continues as a member of the
Committee for Sustainable and Responsible
Business
, for which she receives an annual fee of £6,500.
Loans
There are no outstanding loans granted by any member of the BT Group to any of the directors, or guarantees provided by any member of the
BTGroup for their benefit.
Rt Hon Patricia Hewitt
Chair of the Remuneration Committee
9 May 2013