BT is considering injecting its remaining property assets – including the landmark BT Tower and headquarters close to St Paul’s Cathedral – into its pension fund as it begins to tackle its deficit.

The company owns 10 buildings which could be worth £300m in total, according to analysts. BT is trying to bridge a pension deficit expected to be in excess of £5bn after its latest valuation.

Giving pension trustees a charge over property assets is a common solution for groups with large pension obligations, such as BAE Systems.

Sunday Times

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