Cautious BT may boost cash support for its £47bn pension scheme

Telecom giant moves to increase collateral to limit risk amid mini-budget fallout

BT may be forced to stump up more cash to support its 47bn pensions scheme after the government's disastrous mini-budget, which prompted a market meltdown and forced pension fund managers to tighten hedging strategies.

The fund's managers, who run one of the largest corporate pensions schemes in the UK with about 269,000 members, told MPs that they had become more cautious" and increased the amount of collateral they held, in order to avoid another fire sale of assets.