Forum for former BBC staff

Forum for former BBC staff
http://www.ex-bbc.net/cgi-bin/yabb/YaBB.pl >> Pensions >> PIE http://www.ex-bbc.net/cgi-bin/yabb/YaBB.pl?num=1469467047 Message started by alanh on Jul 25^th, 2016, 5:18pm

Title: PIE
Post by alanh on Jul 25^th, 2016, 5:18pm

PIE has come and gone and a lot of thought given by many. Has anyone heard what the uptake was? I didn't take it but just wondered how many may have.

Title: Re: PIE
Post by Burstner55 on Jul 25^th, 2016, 9:37pm

of greater interest, perhaps, would be to hear from the people who, like me, DID take it up. Do they feel they got what they expected and whether they regret it.....and, just for laugh, did they also vote IN or OUT and is there a correlation? Personally I have no regrets whatever on PIE, even if the financial picture for the next decade is less predictable than before Brexit.

Title: Re: PIE
Post by JohnW on Jul 26^th, 2016, 9:17am

So, Burstner55, did you get "as much as you expected" from PIE? Did it have any "adverse effects" on your Tax position?

Sure, post-referendum the value of our GBP has gone down (completely unnecessarily IMHO!) by many percent, and I'm sure it's about to start setting the inflation figures going on an upward trend - so it's a moot point (at the present time) as to whether you'll be happy when the rate of inflation becomes rather more than single figures.

Any correlation between PIE and views on BrExit must surely be tenuous in the extreme, but as you say "Just for a laugh" they'd provide some odd statistics.

As your "Starter for 10", for my own part, I voted to RemaIN and didn't take up PIE!!

Let's see where this takes us. Anyone else going to volunteer such info?

Title: Re: PIE
Post by Burstner55 on Jul 26^th, 2016, 8:51pm

Hi John. I am paying a little more tax but as my pension isn't that much in the first place - thanks to that Mr Birt - I ain't in the higher bracket. But I am about three hundred and fifty quid a month better off which suits me and the wife, especially as she hasn't had a cost of living increase on her civil service pension for two years....and we are determined to keep on enjoying life whilst we can in our own modest way. Like you, I voted RemaIN and remain pretty angry about the way Cameron and Co screwed up. But there IS an element of fun to be had from watching the way it's turning out....or else we'd get terminally depressed!

Title: Re: PIE
Post by alanh on Jul 27^th, 2016, 1:43pm

JohnW , I'm not sure there is a tie up but following your "starter for 10", I voted Remain but did not take up PIE.

Title: Re: PIE
Post by WG on Dec 21^st, 2016, 11:06am

Having had three quite comprehensive envelopes from the Pension Trust inviting me to consider the PIE option--I thought i should take up their invitation and ring Chase de Vere for independent advice. I would recomend this to anyone --since the 45 minute conversation confirmed for me absolutely that giving up pension rises in exchange for a higher pension now( for me) would be a very high risk strategy. I found the conversation exceptionally helpful .
Nevertheless I remain slightly sceptical as to why the Pensions Trust was going the PIE way in the first place, not sure if other companies are also going down that route. I also asked what was "in it" for the BBC Pensions Trust, were there any other changes envisaged in the BBC Pension scheme ( e.g. a move from RPI to CPI(H) and also whether this one off PIE offer was ever likely to be repeated. We had an interesting discourse on these latter points but no firm facts emerged.
I would recomend anyone taking up the Chase de Vere invitation of impartial advice. It was good