Forum for former BBC staff

Forum for former BBC staff
http://www.ex-bbc.net/cgi-bin/yabb/YaBB.pl >> Pensions >> BBC "Brexit Bonus" http://www.ex-bbc.net/cgi-bin/yabb/YaBB.pl?num=1476609906 Message started by Administrator on Oct 16^th, 2016, 9:26am

Title: BBC "Brexit Bonus"
Post by Administrator on Oct 16^th, 2016, 9:26am

The "MailOnline" features many "Final Salary" pension schemes in this story which says that:-
"Workers at the BBC are set to benefit from a so-called "Brexit Bonus".

"Pension schemes such as the BBC - which is in need of a cash bailout because of a cash shortfall - are handing out large windfall payments......"

The "MailOnline" story runs a quote from "The Sunday Times":-
"The BBC pension scheme is administered independently of the BBC and is subject to the same rules as all pension schemes."

Title: Re: BBC "Brexit Bonus"
Post by WG on Oct 17^th, 2016, 9:44am

Daily Mail must have had a seriously slow news day.

Title: Re: BBC "Brexit Bonus"
Post by JohnW on Oct 17^th, 2016, 2:04pm

I just don't get it.
If, on the one hand "Pension schemes such as the BBC - which is in need of a cash bailout because of a shortfall ..." should that be the case (and from the Actuaries report it would seem that the BBC PF is still short of a sizeable BBC Contribution) then how come there's all this money sloshing about that they're giving out such sizeable "bonuses"?

Besides, I was under the impression that the Pension Fund wanted to limit the effect of future rises by going down the PIE route.

So for Helen Boaden (who can't have been on a bad screw to get a pot of £2.8M in the first place!) to get £840K more than she might previously have received seems rather strange.
I know the £GB has sunk to a record set of lows, but since when did the Beeb start paying people in foreign currency (which would have risen in comparison to a £GB) - or is this all because shares in the UK Stock exchange have recently soared (and thus made the real value of the PF worth rather more)?

If the value of the fund has risen so .. I wonder whether the Trustees will see their way to raise the pensions of all of us ordinary mortals who are paid "relatively" small sums - at least compared to Ms Boaden and the recently retired Mark Byford).

Perhaps we should feel all the more sorry for those retired staff who are living abroad, and seeing the value of their pension sink with each word uttered by Boadicea May, or David Davis/Liam Fox!

Title: Re: BBC "Brexit Bonus"
Post by John on Oct 17^th, 2016, 4:06pm

'Perhaps we should feel all the more sorry for those retired staff who are living abroad, and seeing the value of their pension sink with each word uttered by Boadicea May, or David Davis/Liam Fox!'

Something about leaving the ship!

Title: Re: BBC "Brexit Bonus"
Post by Amigo on Oct 17^th, 2016, 4:43pm

I just wish we'd had a vote.

Title: Re: BBC "Brexit Bonus"
Post by chris west on Oct 18^th, 2016, 4:12pm

I "left the ship" 14 years ago, and any slightest misgivngs I might have harboured have been blown away by the Brexit vote. For anyone interested, my pension, paid in euros, has dropped by 20% over the past year, and five per cent in the last month, since it became clear that no one in the UK government has a clue what will happen. Not starving, just saying.....

Title: Re: BBC "Brexit Bonus"
Post by Burstner55 on Oct 20^th, 2016, 8:07pm

Just saying....but is there in existence a FAIR pension scheme in which every employee receives the same service years:payout ratio AVERAGED across the entire organisation's earnings so that, for instance an SM who has worked 35 years in the Beeb wold receive the same as a controller who worked the same number of years? The latter would receive an almighty drop from salary but would still be well off from their earnings having bought large house, yacht etc whereas the former would be receiving an adequate reward for propping up the other's career for all those years and doing the dirty work their "bosses" had little knowledge of. You know, shifts, antisocial hours, that kind of thing. That's my Preferred Pension Option!! Of course the fly in the ointment is that some stupid b****** called B*** would come along and spoil it all with enforced early retirement...........Just saying.....