Forum for former BBC staff

Forum for former BBC staff
http://www.ex-bbc.net/cgi-bin/yabb/YaBB.pl >> Pensions >> Black Hole in BBC Pension Scheme http://www.ex-bbc.net/cgi-bin/yabb/YaBB.pl?num=1699110832 Message started by WG on Nov 4^th, 2023, 3:14pm

Title: Black Hole in BBC Pension Scheme
Post by WG on Nov 4^th, 2023, 3:14pm

Press reports in today’s Mail, Telegraph, Express and Independent point to the scheme being in poor order, a financial black hole and likely changes in benefits.
I hope this is nothing more than conjecture and speculation ?

Title: Re: Black Hole in BBC Pension Scheme
Post by Dickie Mint on Nov 5^th, 2023, 8:29pm

I wonder if it's to do with this ?:

And more recent updates from mypension:

The BBC's Pension Review

Your questions answered

From the latter this is the pertinent bit for us retirees;

Quote:

The BBC’s Future Pension Review is about future pension saving for current employees, and the BBC has confirmed that there will be no change to benefits that members have already built up – which includes pensions in payment and deferment (and, in any event, there are also certain statutory protections for pension benefits that have already built up).

Title: Re: Black Hole in BBC Pension Scheme
Post by DMCP on Nov 6^th, 2023, 4:44pm

A black hole?

But it was only a couple of months ago that we were told the scheme was 101% funded and £103m in surplus.

Or was I dreaming?

Title: Re: Black Hole in BBC Pension Scheme
Post by WG on Nov 6^th, 2023, 6:14pm

This article was-as I interpreted -nothing to do with the High Court Ruling

Title: Re: Black Hole in BBC Pension Scheme
Post by Dickie Mint on Nov 7^th, 2023, 4:22pm

I found the telegraph article here.

If it displays the paywall nag, on Firefox you can see the whole article with a little trick, if you refresh the page and quickly click on the 'toggle reader view (f9)' text icon to the right of the url address in the address box.

A typical anti-BBC rant. Fails to mention the staff contribution to the pension fund. And calls the Licence fee a TV Tax. Hmmm, don't I have to pay over-inflated pensions of telegraph staff if I buy the rag? don't I also pay towards the hugely inflated pensions of government officials in the Income Tax we all pay? Out of my gold-plated pension too!

Title: Re: Black Hole in BBC Pension Scheme
Post by alanh on Nov 7^th, 2023, 10:00pm

It is a wee bit worrying. Don't think the problem comes from "the workers", it's the high paid stars and execs. Might be nice to hear from BBC Pensions.