The purpose of this Review has been to consider whether our current treatment of pension costs remains appropriate in the context of regulatory decisions relating to BT. This statement sets out our decision to adopt the 'Pension Guidelines' described in the document below.
We have developed our Pension Guidelines because we believe it is important to provide transparency for future decisions. In the event that we have to consider related issues in respect of other stakeholders, we intend to apply the assessment framework, set out in Section 4, on a case-by-case basis taking into account the facts relevant to each individual case together with any new evidence. If we consider it appropriate to depart from our Guidelines in a future decision, we will set out our reasons for doing so.