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Poll Poll
Question: What do you think of the 0.7% increase in BBC pensionis?

It's a very generous and I'm thrilled with it    
  0 (0.0%)
It's quite generous and I'm happy    
  0 (0.0%)
It's reasonable in the circumstances    
  2 (3.6%)
It's too low - it should have been a little higher    
  18 (32.7%)
It's a scandal and an outrage    
  35 (63.6%)




Total votes: 55

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0.7 per cent - fair enough? (Read 8351 times)
Administrator
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0.7 per cent - fair enough?
Mar 20th, 2002, 8:55am
 
Letters have gone out this week confirming that BBC pensioners will get a 0.7 per cent increase in their pensions this year.  

Under the rules of the scheme, increases are based on the rise in the Retail Price Index for the previous calendar year.  The RPI went up by just 0.7 per cent in 2001.

What do you think of the increase?  Vote in our poll above (only one vote per member) or add your comments by clicking on "Reply" below (you can post as many comments as you like).
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« Last Edit: Mar 20th, 2002, 4:41pm by Administrator »  

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budevans
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Re: 0.7 per cent - fair enough?
Reply #1 - Mar 31st, 2002, 3:50pm
 
When the next review is published later this year, is there the ghost of a chance that the trustees will see what a scandal the 0.7 per cent. increase represented and make back-dated amends? (Saw a pig over Brighton today)
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Graham_McKenzie
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Re: 0.7 per cent - fair enough?
Reply #2 - Apr 12th, 2002, 6:20pm
 
-I read in the FT that there are, in fact, two RPIs - one which includes mortgage interest payments; and the other which doesn't.
-Obviously most BBC retirees may have paid off their mortgage.
-Morgage rates are low, so therefore the increase in the RPI which includes mortgages won't have gone up a lot (presumably the 0.7 per cent which we have been awarded)
-However the other RPI - which doesn't include mortgage interest payments - had gone up by (I think) 2.1 per cent!!
-I cut the article from the paper, but can't find it now
-Perhaps this would bear investigation.
Graham
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Mike_Benson
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Re: 0.7 per cent - fair enough?
Reply #3 - Jun 12th, 2002, 12:45pm
 
Further to Graham McKenzies comments. I totally agree that using an RPI excluding mortgage rate would have given us a more sensible pension rise. However we have now suffered the pain of the mortgage rate going down and down. Sooner or later it will go up again. We must now stay with it to regain the ground that we have lost.
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« Last Edit: Jun 13th, 2002, 2:47pm by N/A »  
 
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dusticus
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Re: 0.7 per cent - fair enough?
Reply #4 - Nov 19th, 2002, 2:32pm
 
My feling is that the inflation rate should be based on the average for a whole year, and not just on one month, to decide on our increase to our pension.
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sjccooper
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Re: 0.7 per cent - fair enough?
Reply #5 - Dec 20th, 2002, 10:21am
 
???I was transfered from bbc transmission to crown castle international in 1997,when transmission was put out for privatisation...last week we received a letter telling pension members of the new scheme,that the scheme was in debt...i need to decide what to do now...my bank has said that an ifa could not advise what to do...can anyone suggest  where to seek advice?...stan cooper.
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