BT 2016 Annual Report Download - page 138
Download and view the complete annual report
Please find page 138 of the 2016 BT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148 -
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
-
241
-
242
-
243
-
244
-
245
-
246
-
247
-
248
-
249
-
250
-
251
-
252
-
253
-
254
-
255
-
256
-
257
-
258
-
259
-
260
-
261
-
262
-
263
-
264
-
265
-
266
-
267
-
268
 |
 |
BT Group plc
Annual Report 2016
144
Policy Element Operation and Opportunity Performance measures or basis of payment
Pension
Purpose –
to attract and
retain executive
directors of the
right calibre by
providing market
competitive
post-retirement
income.
Executive directors currently receive a cash allowance in lieu of
pension.
The committee may determine that alternative pension
provisions will operate for new appointments to the Board. When
determining pension arrangements for new appointments, the
committee will give regard to:
• the cost of the arrangements;
• pension arrangements received elsewhere in the group; and
• relevant market practice.
The Chairman does not receive a pension benefit or payment in
lieu of such benefit, but does receive a lump sum death in service
benefit of £1m.
For executive directors, the maximum cash
allowance (or equivalent contribution to an
executive director’s pension) may not exceed
30% of salary.
Executive directors who are not members of
the BT Pension Scheme benefit from a death
in service cover of a lump sum of 4x salary
and a dependant’s pension of 30% of capped
salary.
Save As You
Earn Scheme
(saveshare)
Purpose –
to encourage
employee share
ownership.
Executive directors and the Chairman may participate in the
saveshare (HMRC approved savings related share option plan) on
the same basis as other eligible employees.
All participants may invest up to the limits
operated by the company at the time. There
are no performance measures attached to
these awards.
ESIP (directshare)
Purpose –
to encourage
employee share
ownership.
Executive directors and the Chairman may participate in the
Directshare (HMRC approved purchase of shares from gross
salary) on the same basis as other eligible employees.
All participants may invest up to the limits
operated by the company at the time. There
are no performance measures attached to
these awards.
Notes to the policy table
1. For further information on the performance measures applicable to the annual bonus and ISP see
page 101.
2. No performance measures are applicable to salary, benefits, pension, BT saveshare and BT
directshare in line with market practice.